Bookies ready for the off

The annual rush to renew betting licences is well underway. Among those leading at the first turn is Deirdre Boyd, wife of former Fine Gael TD and Minister for Agriculture, the amiable Ivan Yates.

The Wexford-based couple own Celtic Bookmakers, which became so much a part of Yates’ working life that he decided to quit the hurly burly of politics in 2002 to concentrate on expanding the operation. The dedication has paid off.

At the time he stood down from office, Celtic Bookmakers had less than 20 stores and was predicting turnover that year of €25m.

Founded in 1987, today it operates over 50 outlets and has also put a toe in the UK market. Yates wants to grow turnover to €250m within another two years.

In August he paid over €2.5m to buy eight Ubet shops in Ireland, while last year Yates forked out in the region of €5m to acquire another 10-store operation.

But it’s a tough business out there with lots of competition. Yates obviously believes he has to expand rapidly to stay in the running.

Two months ago British giant Ladbrokes said it would open an additional 80 outlets in Ireland (up to 30 in the Republic and 50 in Northern Ireland) over the next 18 months, bringing its total tally to almost 300.

Yates is also up against Paddy Power, which operates over 200 shops in Ireland and the UK, and Boyle Sports with 115. Last week, the latter reported a 25% increase in sales for the year to the end of June 2007 to more than €624m, with operating profits up 300% to €15.6m.

British bookmaker William Hill also has a decent footprint in the Republic, which all leaves you wondering who the casualties are going to be. Smaller, independent players, certainly.

Interestingly, among those last week seeking to renew licences for William Hill stores in Ireland, is James Henderson, of Gateforth, north Yorkshire, who on the face of it would seem to control just about all the William Hill outlets in the Republic, although the understanding was that all William Hill stores are company-owned.

Curiously, Henderson doesn’t show up as a company director in the United Kingdom, nor does he in appear as director of any Irish entities. If Henderson indeed had so many outlets under his belt, it’s hard to imagine some corporate structure hasn’t been set up to administer them.

http://www.independent.ie/business/irish/ladbrokes-targets-80-new-irish-shops-1055263.html

http://www.rte.ie/business/2007/0809/PRESSWATCH.html?rss

http://news.bbc.co.uk/2/hi/business/4550429.stm

http://celticbookmakers.com

http://www.paddypowerplc.com/

http://www.willhill.com/iibs/EN/sportsbook.asp

http://www.willhill.com/banners/irishshoplocator.html

http://www.boylesports.com/index.asp