Seán Quinn has launched a new online sports betting company, his first business venture since the loss of his building materials, packaging and insurance empire.
The Business Post reports that QuinnBet - which involves Seán Quinn Sr along with a number of his family members - has gone live after securing a gambling licence earlier this week.
The company is to target the sports betting market in Ireland and Britain, with plans for an online casino also in the works.
Speaking on RTÉ's Morning Ireland, Business Post Business Editor Tom Lyons said: "We know that Seán Quinn Jr is the chief executive and we know that this is something that he’s been working on for certainly six months.
"It’s something that he sees as his return to business at the age of 67."
However Mr Lyons pointed out that the business will face a significant challenge in building market share, as it is entering an extremely competitive space.
"Most people looking would say he’ll never do it... most people who looked at him when he went into areas like cement and glass manufacturing said he would never do it and yet he managed to undercut his competitors and challenge them and create a business," he said.
"So I wouldn’t be betting against Seán Quinn in anything like this and he seems to be very determined and very convinced that this is something that he can do."
Seán Quinn Sr was once considered Ireland’s richest man, with a fortune worth €4.7 billion. That was based on the Quinn Group’s operations across a range of sectors, including cement, glass, manufacturing and financial services.
However his family relinquished control of the business after it racked up billions of euro of debt, largely due to investments in Anglo Irish Bank.
