Celtic buys UBET bookies

CELTIC Bookmakers is to buy Limerick-based UBET in a deal believed to be worth in the region of €8 million.

UBET is owned by Pat Murray and John Lyons, who set up the eight-strong chain of shops a couple of years ago.

No sale price was disclosed but based on previous acquisitions, individual betting shops are changing hands for about €1m.

UBET has four shops in Limerick city and county with the rest dotted across the mid-west. The shops employ 30 people, all of whom will transfer to Celtic.

Celtic Bookmakers is owned by Ivan Yates, the former Fine Gael minister, and his wife Deirdre.

Mr Yates told the Irish Examiner yesterday that he had been looking to add a number of shops in Limerick, Cork, Clare and Kerry and the takeover of a UBET added to areas where Celtic was not present.