Caledonia Investments Buys Gala Coral Bingo Halls

130 bingo venues sold for GBP241 million

Land and online gambling group Gala Coral has announced the completion of its sale of 130 land bingo venues as part of its preparations to merge with Ladbrokes plc in a major GBP2.3 billion deal (see previous InfoPowa reports).
The buyer is Caledonia Investments in an agreement first announced two months ago. The deal does not include the Gala Coral brand (the clubs are to licence the Gala title), or the online websites Galabingo.com and Galacasino.com.
Gala reportage shows that the clubs generated revenues of around GBP 300 in the full year ended September 30 2015, from an active player base of over a million bingo fans.
Gala Coral CEO Carl Leaver says that selling off the clubs is another transformative move, but emphasised that the group remains focused on growing its retail and online gambling operations as part of the forthcoming merger with Ladbrokes.

Online Casino News Courtesy of Infopowa

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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
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