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Debt-laden Gala Coral get cash injection

TAGs: Gala Coral, Goldman Sachs

Small change

Small change

Gala Coral have managed to reach a tentative deal for a £175 million cash injection, which is part of a larger debt restructuring with senior and junior lenders. Good news? Well, the betting group was reported to be £4.4 billion in debt last December so the words ‘drop’ and ‘ocean’ spring to mind. And why have Goldman Sachs stumped up the cash, you might ask? Here’s why.

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