Boylesports' Gibraltar move inches closer
Irish bookie confirms relocation plans as CEO John Boyle says the firm is in hunt for UK acquisition targets
Boylesports has confirmed it plans to set up an operational hub in Gibraltar and will meet with authorities from the peninsula later this week in order to finalise details of the move, eGaming Review can reveal.
Last month, eGR revealed the Irish operator was considering relocating and consolidating its respective Isle of Man and Alderney-licensed sportsbook and gaming teams to Gibraltar following a review of its current setup.
And the move is expected to inch closer on Wednesday with the firm due to hold further talks with Gibraltarian authorities to finalise details of the transfer and secure a Gibraltar Gambling Commissioner licence.
“We are very happy with how our negotiations with the Gibraltarian authorities are progressing,” a spokesperson for Boylesports told eGR this morning.
“We are meeting with the authorities again later this week where we hope to finalise some of the details of the move,” the spokesperson added.
The move will see a relocation of staff from its Dundalk and London-based offices where it is understood up to 10 roles could be at risk as a result of the process.
The news comes after Boylesports founder and chief executive John Boyle gave an interview to the Irish Independent last week in which he reaffirmed the operator’s intention to expand operations in the UK.
Boyle told the newspaper that the “next steps for the business” would be to make a “big push” into the UK market via an acquisition, although had yet to identify the right target.
“And if it happens it will be done in scale,” Boyle said. “Now that we are debt free we would have backing from the banks,” he added.
A company spokesperson confirmed Boylesports’ interest in the UK market although indicated the priority would be to expand its retail operation.
“We have always been open to establishing a retail presence in the UK and as a debt-free company we are well positioned to expand our successful retail operation into the market of Ireland’s nearest neighbour,” the spokesperson told eGR.
The company last year kicked-off a UK push with the opening of a London marketing hub led by former Sportingbet CMO James Arnold.