23rd of December 2014 Author: Glo Wood
As part of the process to sell its retail business, Gala Coral sells 60 Bingo properties and 8 casinos with its property subsidiary Propco Three Limited (Propco).
Propco sold 47 bingo properties to M&G Investments and an additional 5 are soon to be sold for a consideration of GBP 173.4 million.
Gala Retail has signed leases to rent properties to M&G Investments.
"Today's announcement is good news for the Gala Coral Group as it further streamlines our financial structure,' said Paul Bowtell, chief financial officer for the Gala Coral Group. 'In addition, the move to current market rents on these clubs for Gala Bingo will enhance the profitability of the business'.
Gala Coral has 6 remaining properties that it expects to sell in the first quarter 2015.
Land Based Bingo News
28th of May 2015
11th of November 2012
14th of February 2019
13th of February 2019
18th of January 2019
3rd of January 2019
1st of January 2019
15th of December 2018
12th of December 2018
14th of December 2018
Join now for full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
Disclaimer Contact Us Privacy Terms and Conditions Gambling Help About Us Site Map Trusted Portals
LatestBingoBonuses.com © 2006-2019
Enter your email adress:
T&C's Apply. 18+
Do not show this again
You have been successfully subscribed to receive LBB newsletter!