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Gambling: gala coral wants more internet gambling action

8/31/09 - The British online and land gambling group Gala Coral is reportedly trying to reduce its GBP 2.7 billion debt pile in order to boost internet operations, reports the Mail on Sunday. And the strategy for doing so is to persuade major existing investors to give up some of their shares in the company to debtholders.
 
The company is being advised by Lazards as it tries to negotiate a deal with its three major private equity backers, Candover, Permira and Cinven, and a syndicate of 50 financial institutions, which own GBP 550 million of the group's debt. The remaining debt is held by the Gala's banks and would be unaffected by any deal.
 
Such a debt-for-equity agreement would free up the group's GBP250 million in cash, primarily for expansion in its Italian and Internet enterprises. Using the cash has been hampered by the restrictive terms of the loan agreements.
 
The company is an important component in the UK gambling industry with almost 2 000 betting offices, 148 bingo clubs, 27 casinos and two greyhound stadia, as well as online and telephone operations. It employs around 19 500 people.

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Box 24 Launches 3 New Slots - This week sees the addition of 3 New Games at Box24 Casino. Check them out they all seem pretty interesting.

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

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