The merger of Gala Coral and Bingo Hall is set for a £240m ($360 million) jackpot as the companies prepare to sell their business together.
Gala Coral, one of the UK’s largest gaming companies has announced that it plans on selling its Gala Bingo retail brand for £241 million. The sale will allow them more time and money towards investing into other industries they are primaries focused in such as betting sites or online casinos.
This deal is too good to be true! The 130 Gala Bingo clubs will become available at a discounted price of £3 million pounds per club, conditional upon approval from the UK Gambling Commission. This represents an incredible offer considering that each club currently sells for up tp 4500GBP ($6100).
A potential buyer could get their hands on 7 different games with just one purchase which includes bingo cards, slots machines and plenty more exciting options – all without having any initial investment required or even knowing how much gambling money they might need as well since it’s possible for most people!
Gala Bingo will continue to operate under the Gala brand, with Caledonia Trade providing services through an agreement between both parties. The license agreements are mutually beneficial and allow for increased productivity in marketing bingo products while protecting intellectual property rights associated with these brands.
The merger of Gala Coral and Ladbrokes is one that has been widely anticipated, with the company stating back in July they were awaiting approval from European Union regulators. It’s expected this deal will create an even stronger competitor to big betting brands like William Hill or Paddy Power; though whether customers prefer them over smaller chains remains unclear as yet!
The sale of Gala Retail is unrelated to the planned merger, which includes certain businesses from Gala Coral but does not include their retail division.
Gala Retail’s CEO Simon Wykes has announced that he will be remaining with the company.
The Gala Group has always been known for its horse-betting empire, but this time around they’ve taken it one step further. They transformed Coral Eurobet into an integrated betting and gaming company with video poker machines as well!
Coral Bingo has a 38% market share, which it claims is the highest in Europe.
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