Significant double-digit growth in the Irish betting business is forecast at Stanley Leisure, the British bookmaker-to-casino operator, which has 52 betting offices in the Republic, writes Sebastian Taylor. Already, betting turnover has benefited from evening openings of betting outlets since the end of April and from Sunday openings starting on Irish Derby Day.
The Government has also reduced betting duty from 10 to 5 per cent from the beginning of this month. Taken together, extended opening hours and reduced duty helped to lift betting turnover by more than 10 per cent in the first fortnight of July.
The update on Irish betting activities accompanied Stanley Leisure's figures, detailing a 2 per cent decline in pre-tax profit to £23.5 million sterling (€36 million) in the year to the end of March on turnover up 3 per cent at £468 million (€718 million).
The Irish betting shops posted improved results, partly due to the less successful season for Irish-trained horses, notably at the Cheltenham Festival.
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