Struggling gaming group Gala Coral is to sell off many parts of their group including the former lifeblood of the business, the land based casino and bingo arm.
In exclusive news, we can reveal that another land-based gaming group have asked for due diligence on the 28 casino operations that are run by the British based gaming group. It’s thought that the move will trigger a major shakeup in the land-based casino and bingo industries in the UK.
According to reports, Gala Coral is looking to focus entirely on the online sector going forward and as such is looking to get rid of the casino and bingo sectors that have been failing in recent months.
It’s thought there are plenty of takers for the 28 casinos, but their extensive network of bingo halls may be seeing Gala-branded dobbers for some time yet.
The past year has seen the group in the hands of creditors, cost their chief executive £10m, and in the red to the tune of £188m at points over the last year, and reiterating that they were still in the running for the Tote was seen as a surprise by many.
One group that may be considering a move for the group’s casino business is Genting UK’s land-based arm that already operate as many as 40 premises across the UK under the Circus, Mint and Maxims brands.
So far, when contacted the group, they decided not to comment on anything involving the process but haven’t ruled themselves out.
Genting also operates the popular Palm Beach Casino in the heart of London’s West End.