Tag Archives: deloitte

Irish High Court grants Ladbrokes closure of 5 betting shops

The Irish High Court has granted Ladbrokes permission to close its leases on five premises in advance of its examinership rescue plan, which was submitted by the operator at the end of June The repudiation of leases will see betting shops in Kilmacud Road, Ballygall Road and Finglas Town Centre (Dublin) John Street (Waterford) and Middleton (Cork) closed. The Irish …

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Examiner – Parent bid tops Boylesports for Ladbrokes Ireland

Following its month long review under the Irish High Court, it appears that Ladbrokes Plc rescue plan for its Ladbrokes Ireland division has trumped Boylesports €25 million bid. On Tuesday Ken Fennell (Deloitte), the examiner appointed by the High Court to review the bid process, informed Ladbrokes Ireland creditors and other stakeholders that the examinership review favoured the plans put …

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Betfred revelead as third bidder for Ladbrokes Ireland

Following last week’s granted review of Ladbrokes Ireland examinership by  bookmaker Boylesports, Irish business news sources have reported that Manchester independent bookmaker Betfred is studying a potential rival bid for the troubled retail betting division. The Irish Times had revealed Betfred as the third bidder in the ongoing examinership, however the newspaper has questioned whether Betfred governance will place a firm …

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Boylesports to review Ladbrokes Ireland examinership

Boylesports who have shown interest in acquiring Ladbrokes Ireland retail division out of examinership, has been granted leave by the Irish High Court to raise questions regarding the divisions performance. Boylesports has been permitted to serve short notice on Ladbroke Ireland Ltd; Ladbroke Leisure Ireland Ltd; Dara Properties Ltd by Ms Justice Mary Faherty. The operator has further been granted …

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Boylesports eyes takeover of Ladbrokes Ireland

Irish independent bookmaker Boylesports is lining up to buy Ladbrokes loss making Irish retail division. The division is currently under Irish High Court protection, following Ladbrokes appointment of examiner Deloitte in April. Having recorded 2014 division losses of €5 million, Ladbrokes Ireland operations are currently being re-structured, with the operator outlining the closure of 60 of its 196 Irish betting …

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Irish landlords seek higher rent compensation from Ladbrokes

Ladbrokes Irish retail business restructure has come under fire, following complaints of ‘derisory’ compensation for landlords of closed retail premises. A group of Irish landlords is set to join forces and challenge Ladbrokes retail closure terms, claiming that the operator should pay a higher fee for terminating its lease agreements. Following last month’s review of its loss making Irish retail …

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Deloitte – Premier League clubs post £190 million in combined profits

Financial auditing and consulting firm Deloitte have revealed a pre-tax profit of £190 million for English Premier League (EPL) football clubs in 2013-14, marking its first collective profit in fifteen years. New cost control measures and refined corporate strategies have been highlighted as the drivers for the earnings boost by Deloitte. The combined £190 million earnings are four times higher …

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Sam Cooke – £113,000 a minute: The TV rights deal and what it means for football

Back in October we featured a story making predictions concerning the then forthcoming TV rights battle for the Premier League, as well as its history and its comparison with other leagues worldwide. Big numbers were being thrown around, and expert estimations were around the £4bn mark. Last week, it was revealed that the finalised figure for the new deal is …

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Lee Richardson: British horseracing… time to set Levy adrift

Lee Richardson, CEO at Gaming Economics, has looked at the tired old Levy Scheme and thinks its time that a modern industry found a modern solution. Gaming Economics thinks it’s time for the British horseracing industry to stop relying on Levy funding under its current guise. The Horserace Betting Levy is a statutory instrument which essentially transfers money from those …

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Gambling tax more complicated than ever

Barney Horn, indirect tax partner in the Deloitte betting and gaming group, has said that the Treasury has made gambling taxation more complicated than ever despite a trend for simplification. He explained: “Overall, while there has been much talk of simplifying taxes, the position has become increasingly complex with rates for seemingly similar gambling experiences being taxed at different rates. …

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