27th of October 2015 Author: Glo Wood
Gala Coral has moved ahead with the sale of its Gala Bingo retail business to Caledonia Investments plc for a GBP 241 million consideration.
All 130 Gala Bingo clubs were included in the sale, which is still pending British Gambling Commission approval.
Gala Coral will still own the Gala brand, Galabingo.com and Galacasino.com. The clubs will retain the Gala name as a result of a licensing agreement between both companies.
Carl Leaver, chief executive of Gala Coral said, '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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