Gala Bingo Sold Off To Caledonia Investments

Company narrows focus on retail and online betting

Betting and gaming firm Gala Coral has sold off its Gala Bingo retail business to investment trust firm Caledonia Investments plc for a total consideration of GBP 241 million.
The sale involves 130 Gala Bingo clubs and is conditional on approval from the British Gambling Commission.
While Gala Coral will retain both the Gala brand and the websites Galabingo.com and Galacasino.com, on completion of the transaction the bingo clubs will continue to trade under the Gala brand through a licence agreement entered into by the two parties.
A further collaboration agreement ensures that the two businesses take full advantage of multi-channel opportunities already developed by Coral.
Chief executive officer Simon Wykes will continue to be lead Gala Bingo after completion of the sale.
Carl Leaver, chief executive of Gala Coral commented: "We are very pleased to have agreed the sale of Gala Retail, following a competitive process. The sale is another transformative step for Gala Coral Group, following the turnaround of the business over the past few years."

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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