Ladbrokes Acquires Eastwood Bookmakers Ladbrokes has become the largest bookmaker in Northern Ireland following the acquisition of Eastwood Bookmakers for a consideration of #117.5m (sterling). Following today's acquisition of the 54 Eastwood shops Ladbrokes will have 70 shops throughout Northern Ireland, which include the 16 shops it acquired in 2006 from Northwest Bookmakers, which brings Ladbrokes share of the betting shop market in Northern Ireland to 23%. Ladbrokes is already the largest bookmaker in the Republic of Ireland where it operates 201 shops. In total Ladbrokes now operates 271 shops throughout Ireland. Eastwood Bookmakers was established in the 1950s by BJ Eastwood and Frances Eastwood and is Northern Ireland's best-known family bookmaker with shops located in all major towns. Ladbrokes' purchase also includes Eastwood telephone betting business headquartered in Belfast. Managing Director of Ladbrokes Ireland, Joe Lewins said: "I would like to welcome the 300 Eastwood staff to Ladbrokes, the world's leading bookmaker. We are investing and growing in Northern Ireland and this will mean new opportunities for the workforce. Leading edge technology will be installed and the full Ladbrokes service will follow. All UK racing will be part of the service." BJ Eastwood, founder of the business said: "We would like to take this opportunity to sincerely thank our staff and customers for their years of support at all our shops throughout Northern Ireland. Ladbrokes is a world-leading name in betting and all our staff can be reassured that they will be investing in the business and offering more opportunities. The betting business is a fast-changing one and having talked to several companies we believe Ladbrokes were the best company to take the business forward in Northern Ireland." The acquisition is expected to generate EBITDA of approximately #11m in the first 12 months of Ladbrokes ownership with good growth forecast for the next two years as the re branding takes effect.
