William Hill sale of Irish estate

More details have come to light on Irish bookmaker Boylesports’ acquisition of William Hill’s Irish retail estate comprising 15 Shops.

The Irish retail estate was sold to for a cash consideration of Euro 1.5 million confirmed a William Hill statement.  Additionally, William Hill expects to incur GBP 2 million in exceptional costs related to the disposal of its Irish retail business, net of the cash consideration paid.

Brian McColgan, regional operations controller, William Hill, said:  “The time came for us to either expand our retail estate in Ireland or to concentrate our efforts on our thriving Irish online and mobile betting businesses.  We took a lot of time to consider our options and decided the restrictive nature of the Irish retail betting sector would have made expansion financially unviable.”

The deal is expected to be finalised in December 2011.

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