UK gaming company Gala Coral has completed the sale of its Gala Bingo retail division to Caledonia Investments, following approval from the Gambling Commission.
The £241m deal includes the sale of 130 bingo clubs, which will continue to trade under the Gala brand through a licence agreement between the two parties. Gala Coral retains both the Gala brand and the websites Galabingo.com and Galacasino.com.
The relationship between Gala Retail and Galabingo.com is to be governed by a collaborative agreement to enable the two businesses to “take full advantage of the multi-channel opportunity” already developed by Coral. Gala Retail does not, however, form part of the proposed merger between Gala Coral and fellow UK-based bookmaker Ladbrokes, announced in July last year.
The disposal of the Gala bingo retail estate is “another transformative step” for Gala Coral, chief executive Carl Leaver said.
“We wish the Gala Retail team all the very best for the future and believe the business will continue to thrive under its new owners,” he continued. “Gala Coral remains focused on growing and developing our retail bookmaking and online businesses, and concluding the proposed merger with Ladbrokes.”
