Bookies take over is a safe bet

THE giant British bookmaking chain, Ladbrokes, has guaranteed total job security for all 40 staff members involved following its multi-million euro takeover of 12 betting shops owned by the husband and wife team of John and Siobhain Harney of Waterford.

Nine of the offices are located in Waterford and Tipperary with one each in counties Cork, Limerick, and Wicklow.

“Not only are all forty existing jobs safe, but our plans are to increase staff numbers to fifty”, Ladrokes general manager in Ireland, Joe Loones, said.

The buy out figure has not been disclosed under a confidentiality clause in the contract, but it is understood to be close to €10 million. “It is the right deal, at the right price, at the right time’, said Mr Loones.

The acquisition does not involve the four Harney owned on-course shops in Clonmel, Tipperary, Tramore, and Wexford which will continue to operate under the Harney name.

Likewise existing Ladbrokes betting shops in a number of the locations where Harneys are also based – among them Dungarvan, Waterford, and Clonmel – will not be affected by the takeover.

It is understood however that John Harney will be retained by Ladbrokes on a consultancy basis in respect of the 12 outlets involved in the acquisition deal.

The new outlets bring to 159 the number of Ladbroke betting shops nationwide – 10 ahead of the Paddy Power organisation.