Manchester-based bookmaker Betfred is set to acquire the 360 betting shops that are being sold off in the UK as a result of the £2.3 billion (US$2.9 billion) Ladbrokes-Coral merger.

The Irish Independent reported over the weekend that Betfred is likely to be announced as the winning bidder for hundreds of betting outlets that Ladbrokes-Coral offloaded.

The report didn’t indicate how much Betfred offered for the 360 betting shops of Ladbrokes-Coral but it mentioned that the British bookmaker’s closest bidding rival, Irish betting chain Boylesports was unsuccessful with its bid despite dangling a €118 million (US$132.61 million) offer for the shops.

At present, Betfred currently holds a retail portfolio of 1370 betting shops. Boylesports, on the other hand, has over 200 shops in the Republic and Northern Ireland.