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GalaCoral Changes Owners

6/24/10 - The UK land and internet gambling group Gala Coral’s debt burden of some GBP2.6 billion will be eased under a new ownership arrangement comprising the group’s mezzanine debt holders, private equity houses Apollo, Cerberus, Park Square and York Capital Management.
 
The debt holders have converted their GBP558 million holding in the group into equity and injected a further GBP200 million in cash as part of a restructuring that will ease the group’s restrictive debt burden by some GBP 700 million.
 
The quid pro quo for this is ownership of the group, from which previous major shareholders Candover, Cinven and Permira, will now depart.
 
The infusion of GBP200 million will be used to expand the group’s online and offline businesses.
 
“I am delighted that, after nearly 12 months, we have successfully concluded one of the largest and most complex restructurings in UK corporate history, said the group’s executive chairman, Neil Goulden.
 
“The restructured group is now in a strong position and fully able to compete in an increasingly competitive and global gambling market.”



Gambling News :

3 Top Bitcoin Poker Sites - Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.

Kentucky Derby Odds: Justify still Favorite - With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But heís got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.

$40,000,000 guaranteed Partypoker Powerfest - $40,000,000 guaranteed POWERFEST schedule released. 6th-20th May, 366 events, 13 events with $1,000,000+ guaranteed

888Poker Takes Over the States - With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?

Top gambling ICOs to watch this year - The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.

MPN Poker Tour Bratislava Results - Alex Hendriks Wins Inaugural MPN Poker Tour Bratislava Main Event and Ä27,000

MPN Poker Tour Bratislava | Day 2 - It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a Ä900 min-cash.

MPN Poker Tour Bratislava Day 1B - Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the Ä550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today

MPN Poker Tour Bratislava Day 1A - The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tourís friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.

Famous professional eSports player that turned into poker - It goes without saying that nowadays eSports is one of the fastest growing industries. However, similar to regular sports, the professional gamers are struggling to find themselves after their career is over.

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