DUBLIN: Boylesports has failed in its effort to secure details about the Ladbrokes Ireland business, an operation that the Irish independent bookmaker has declared its interest in acquiring.
As reported by iGaming Business, Boylesports was in May linked with a bid for the business, with the bookmaker confirming earlier this month that it was to challenge Ladbrokes’ plans to restructure its operations in Ireland.
Ladbrokes in March announced that it was to undertake a review of its Irish arm after it suffered heavy year-on-year losses in 2014.
The firm has been working on a rescue plan with High Court-appointed examiner Ken Fennel, under which as many as 60 of its betting shops in the country could close, with 250 people losing their jobs as a result.
Boylesports had stated that in order to go ahead with a bid for the business, it required additional information about the overall Ladbrokes Ireland operation.
However, Boylesports has now been dealt a blow after it was confirmed by the Irish Times newspaper that the bookmaker has failed to gain a High Court order that would have enabled it to access such information.
Boylesports claimed that Fennell and Ladbrokes were withholding important information necessary to make “an effective financial offer”.
However, Fennel argued that bidders had been given sufficient information and that Ladbrokes could be irreparably damaged by providing commercial sensitive information to competitors.
Justice Brian Cregan ruled the decision by Ladbrokes to withhold information was properly made within the scope of the examiner’s commercial judgement.
Boylesports is yet to confirm if it will proceed with a bid for the business, while it also remains unclear over the intentions of Betfred, which is also understood
