Paddy Power, Ireland's largest betting shop owner, said it paid £19 million pounds (€23 million) for a Northern Irish bookmaker.
McGranaghan Racing has eight outlets in the Belfast area and employs 50 people, Dublin-based Paddy Power said today in a statement.
The company said it will spend a "significant seven-figure sum" on refurbishing the sites. At 2.45pm Paddy Power shares were trading down 1.1 per cent at €21.94.
Bloomberg
