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Gala Bingo Sold

Monday, October 26, 2015 : 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.”



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NBA Odds: Chalk-Heavy Warriors Host Portland for Game 2 - The Golden State Warriors needed a strong fourth quarter to put away the Portland Trail Blazers on Sunday. But they still didn’t cover as 15-point home favourites in a 121-109 victory. Can they do better this Wednesday (10:30 PM ET, TNT) in Game 2 of their first-round playoff series?

Caesar’s Triumph Slot Launches - Caesar’s Triumph is new slot at Bovada that features the Roman dictator in all his glory. The action takes place on five reels where you’ll find 20 paylines and plenty of ways to spin your way to victory.

NHL Odds: Pacific Division Foes Face Off in Edmonton - The Edmonton Oilers will attempt to defend their home ice advantage this Friday (10:30 PM ET on Sportsnet) against the San Jose Sharks. The Oilers (47-26-9) finished second in the Pacific, while the Sharks (46-29-7) finished third, but only four points behind their First Round foes.

Bingo Cataratas Offers Unique Spin on Classic bingo - Bingo Cataratas (Spanish for waterfalls) is changing the way people think about bingo according to Bovada. Just because bingo is a classic with a huge following, doesn’t mean it can’t be spiced up with a fresh new format. Bingo Cataratas has the basic structure of bingo, but also has an “extra ball” feature and a bonus mini game.

NBA Odds: Hawks-Pacers in Regular-Season Finale - Depending on the results of Game No. 81, Wednesday’s regular-season finale (8 PM ET, ESPN) between the Atlanta Hawks and Indiana Pacers could decide whether Indiana reaches the postseason. It could also give the Pacers a higher seed than Atlanta in the Eastern Conference playoffs.

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