Irish Gambling Concerns Looking at Ladbrokes

Published Friday, June 05, 2015 -
Irish Gambling Concerns Looking at Ladbrokes

The industries surrounding internet gambling business is growing in leaps and bounds with the legal profession increasing at a fast pace. The amount of money online gambling spends on legal fees is enormous with jurisdictional compliance and take over initiatives staying on the right side of the law is paramount.

A recent court challenge by the Irish independent bookmaker Boylesports with rival bookie Ladbrokes and the process it plans to restructure its business in Ireland is an example of the legal profession having to play an essential role in gambling business politics and rules. The Ladbrokes plan involves closing as many as sixty betting shops in Ireland and the loss of a possible 250 jobs. The High Court appointed Ken Fennel as examiner of the process and is working with Ladbrokes on the plan.

The Irish Times newspaper reported that Boylesports has been granted permission by the High Court to submit motions challenging the examinership and serve notice of its intention to Ladbrokes Ireland, Fennel and the legal team. Boylesports has been clear about its intention to acquire part or all of the Ladbrokes Ireland business. It has been suggested that Ladbrokes Ireland could soon become the takeover target by Boylesports, which is already well known in Ireland.  

Now it is reported that the sharks are seeing a target in Ladbrokes Ireland with iconic Irish competitor Paddy Power possibly entering the bidding for Ladbrokes. Ladbrokes has been experiencing severe ups and a few downs in its share price with the obvious posturing going on for market share. Yesterday was a bit of a ride for Ladbrokes share holders with 122.3p at the start of the day ending at around 125.5p but soaring to 127p at times. Sources have speculated that Paddy Power is preparing an offer worth approximately £1.6 billion, still other concerns are also said to be interested in a possible acquisition. The sure bet is the lawyers will make a good wage.



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