FOURFOLD JUMP IN PROFITS FOR BOYLESPORTS

26 October 2007

Sports events run in favour of Irish bookie


Bookmaker Boylesports has reported a fourfold jump in profits for the year to the end of June, helped by a run of favourable sports results. Operating profits were Euro 15.6 million, compared with Euro 3.9 million last year, on a turnover which rose by 25 percent to Euro 629.3 million.

Boylesports said the Cheltenham and Aintree horse racing meetings were particularly positive for the company, which has 600 employees and was founded in 1989. The bookmaker now has 113 shops, and CEO Daniel O'Mahony says it is looking closely at expanding into the UK market. This year the firm signed a sponsorship deal with English Premiership club Sunderland.

O'Mahoney used the platform afforded by the results release to disclose that Boyles in no longer interested in doing a deal on Bet Direct with owner 32Red.com. Speaking on the publication of his company results for the year, the chief executive said: “We will not be buying Bet Direct”.

Industry observers claim that the news leaves Stan James as the leading contender to acquire the online bookmaker.

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