Ireland’s Boylesports Limited has announced plans to spend more than $4.3 million on expanding its Internet betting business into Spain and a number of other European countries over the next twelve months.
The firm behind online bookmaker Boylesports.com, Dundalk-based Boylesports has hired John Overett, a former executive with Austrian online sportsbetting specialist Bwin, to head a team of 20 people developing websites and gambling products for Europe.
According to a piece from The Irish Times, Daniel O'Mahoney, Chief Executive Officer for Boylesports, stated that the company plans to have its Spanish language site running within two months and a site in a second language in December.
'We're looking at adding another four next year,' said O'Mahoney.
Boylesports is owned by founder John Boyle and his family and recently announced that its annual turnover had risen 16 percent to $1.11 billion while gross profits increased 18 per cent over the same period to $122.62 million. The group also revealed that it is free of debt and decided to change the end of its financial year to December, which will allow it to compare its performance against competitors.
'We tend to invest for three to five years ahead and, if we switch the taps off, it can be hard to switch them on again,' said O'Mahoney.
Boylesports is the official shirt sponsor of Irish-owned English Premiership soccer team Sunderland and recently signed a deal to become the betting partner of another side, Aston Villa. In its home nation, it has signed a $1.44 million deal to become the official betting partner for the Football Association of Ireland, a move it is planning to promote this weekend with special offers.
'Soccer is very important in the European market and we can see plenty of opportunities for growing this market here as well,' said O'Mahoney.