Boylesports will invest €3m in a chain of seven outlets it has added to its network after buying Tom Flood Bookmakers. The seven shops will all be retained and immediately rebranded.
All the outlets that have been bought are in the greater Dublin area. Three are in Tallaght, with the others located in Coolock, Clondalkin, Ratoath and Blessington
The additions bring to 192 the number of outlets that are part of the Boylesports network. That’s not far off Paddy Power, which has 210.
Boylesports chief executive and owner John Boyle said that he was “delighted” to welcome the 39 staff at Tom Flood Bookmakers to the group.
The most recent publicly available accounts for Tom Flood Bookmakers show that it had shareholder funds totalling €126,000 at the end of last December. The net cash inflow in 2012 totalled €30,579, down from €101,664 a year earlier, and it recorded a tiny profit amounting to a few hundred euro last year.
It had net funds of €392,000 at the end of 2012, when it employed three managers and 53 betting shop staff.
Headquartered in Dundalk, Boylesports opened an office in London during the summer that will recruit staff who will support the company’s expansion of its digital operations.
source : www.independent.ie
