Irish poet Michael D. Higgins is on his way to be the country's next president after appearing to have won Ireland's presidential election Thursday.

Initial results Friday showed that the 70-year-old member of the Labour Party secured 39.6 percent of the first preference vote, while his main rival and independent candidate Sean Gallagher had conceded defeat.

Gallagher, an entrepreneur who won fame at a reality TV show, placed second in Thursday's presidential race with 28.5 percent of the vote, while former Irish Republican Army (IRA) commander Martin McGuinness ranked third with 13.7 percent.

Gallagher congratulated Higgins on his success, saying he would fully support Higgins as the country's president. Meanwhile, McGuinness reportedly has also sent congratulations to Higgins.

Ireland has a complex voting system for the presidential elections. Final results are expected to be announced soon.

Higgins, a veteran politician of the Labour Party and a minister of culture and the arts in the 1990s, will take over from incumbent President Mary McAleese, who has served the maximum two terms for a total of 14 years as Ireland's president.

About 56 percent of 3.1 million eligible voters in the country went to the polls Thursday to elect the country's ninth president from a record number of seven candidates. The race is regarded as one of the most competitive in Ireland's history.