Irish bookmaker Boylesports is planning on investing €1.5m (£1.2m) to buy its headquarters in Louth as the property comes up for sale at auction.
According to the Irish Independent, it is part of a wider trend within the business to start buying up the properties from which the bookmaker does its business – it suggested that Boylesports is in active negotiations to buy up to 10 of its bookmaking shops from landlords.
The company’s investment is being viewed as a sign that the Irish property market is recovering after suffering a torrid time after the collapse of the Celtic Tiger. The bookmaker is believed to be in advanced negotiations to buy five shops, with earlier stage talks continuing on the other five. Owner John Boyle also has an eye very firmly on the UK and has suggested that he would be interested in buying into the betting retail market within the next five years.