Ladbrokes has purchased 54 betting shops from Eastwood Bookmakers in Northern Ireland for around £135m, making it the largest LBO operator in the province with a total of 70 outlets. The firm is already the largest bookmaker in the Republic of Ireland, where it operates 201 betting shops.
The deal also includes Eastwood’s telephone betting business, based in Belfast. The £135m Ladbrokes paid includes goodwill payments and a leaseback of the freehold properties.
Managing director of Ladbrokes Ireland Joe Lewins commented: “We are investing and growing in Northern Ireland and this will mean new opportunities for the workforce. Leading edge technology will be installed and the full Ladbrokes service will follow. All UK racing will be part of the service.”
Eastwood co-founder BJ Eastwood said: “Ladbrokes is a world-leading name in betting and all our staff can be reassured that they will be investing in the business and offering more opportunities. The betting business is a fast-changing one and, having talked to several companies, we believe Ladbrokes were the best company to take the business forward in Northern Ireland.”