Business Career
Yates is the chairman and managing director of Celtic Bookmakers, an Irish chain of betting shops, and expanded the company from its Wexford base to a chain of 64 shops around the country at its peak. It was announced on 4 January 2011 that the company had gone into receivership.
Yates' leadership has been very much in evidence in the bookmaking industry. He has been heading a group of bookmakers in a court case against the British Horseracing Board (BHB) over data rights. Although the issue has yet to be resolved in the Irish courts, UK bookmaker William Hill has already defeated the BHB on this issue in the Court of Appeal and the European Court of Justice. Yates is hoping that the court will also force the BHB to pay back the £15m a year that Irish bookmakers have been paying the BHB for data rights since 2002.
Yates in 2011 described the Irish bankruptcy regime as "purgatory" and publicly announced that he was contemplating moving to the UK to avail of its bankruptcy regime.
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