Irish independent bookmaker Boylesports has been granted permission to launch a challenge over Ladbrokes’ plans to restructure its business in Ireland, amidst talk of a possible takeover bid for the operation.
As reported by iGaming Business, Boylesports last month was linked with a bid for Ladbrokes Ireland after the latter announced it was to undertake a review of its operations in the country following heavy losses in 2014.
Ladbrokes has been working with High Court-appointed examiner Ken Fennel on a rescue plan that could lead to the closure of up to 60 of its betting shops in the country, which would result in the loss of as many as 250 jobs.
Despite being under court protection in order to allow for restructuring, recent media reports suggest that Ladbrokes Ireland could soon become the subject of a takeover bid by Boylesports, which has a heavy presence in the country.
So far, Boylesports has not been granted sufficient access to the information it requires from Ladbrokes Ireland to come up with an offer for the business.
