Paddy Power bets on Belfast move

It is the betting chain's first move into Northern Ireland

Irish bookmaker Paddy Power has bought the Belfast-based McGranaghan Racing chain of betting shops.

The £19m deal sees the bookie chain entering the Northern Ireland market for the first time.

The chain of eight betting offices are located in Belfast, Holywood and Glengormley.

McGranaghan's, established in 1952, employs 50 staff, all of whom will be retained. The firm said it would invest a seven figure sum refitting the shops.

"Acquisition is the necessary route into this interesting market and McGranaghan's is an ideal entry point for Paddy Power," chief executive Patrick Kennedy said.