The £440 million sale of the Coral betting business by its owners, Ladbroke, to a finance group does not include the group's 51 betting shops in Ireland which are due to be re-branded under the Ladbroke name.

Mr Jack Mooney, Ladbroke Ireland's public relations manager, said yesterday the Coral business would be "fully integrated" in the new year, bringing the group's employees here to about 500.

The entire Coral operation was acquired by Ladbrokes for £363 million sterling from Bass leisure group last December but the British Trade and Industry Minister Mr Peter Mandelson ordered Britain's largest bookmaker to sell the business for competition reasons. The Republic's Competition Authority did not object to the effect of the acquisition on the Irish market. Ladbroke has 76 outlets in the Republic after new premises opened this week in Westport, Co Mayo and in Swords, Co Dublin. One is due to open at the Square, Tallaght in January.

Although fears have been raised that some Coral branches would close because of their proximity to Ladbroke ones, Mr Mooney said only two or three shops "clashed".

The British Coral business is being bought for £390 million sterling (£440 million) by its management who are being backed by Morgan Grenfell Private Equity, which is owned by Deutsche Bank, and Lehman Brothers investment bankers.

One member of the management buy-in team is the Dublin-born entrepreneur, Mr Gerry Connolly, who said he had a substantial minority stake in Coral as a result of the deal.

The intention was to develop the Coral business "more as a leisure activity than simply a horse and greyhound activity". Football betting would be one area which would be developed. Along with Coral's 51 outlets in the Republic, the acquisition of which was approved by the Competition Authority, a further eight outlets on Jersey will be retained by Ladbroke.