UK gambling operator Gala Coral Group has rejected reports that it held talks with private investment firm OpCapita for a possible sale of the Gala Retail business.
Although Gala Coral confirmed that the company is undertaking a process to explore the possible sale of Gala Retail and is having talks with number of interested parties, the UK operator denies press speculation suggesting that OpCapita has submitted a bid or that there is a current discussion between the two companies.
Gala Coral Group also announced on the same press release that its property subsidiary, Propco Three Ltd. has completed its sale to M&G for £173.4m.
Gala Retail has also purchase five properties from Propco for £1.1m. Following the purchase of the properties and the surrender of the leases, rent is no longer payable and these clubs will make a positive contribution to EBITDA.
KARMA GAMING INKS OPENBET
Meanwhile, Karma Gaming confirms a global distribution agreement with UK gaming software provider OpenBet Ltd.
Under the deal, Karma will bring a number of titles—such as Haunted Hotel, El Lootchador, and Secrets of the Pyramids—to new markets via the OpenBet platform. Karma said that the company is reinventing instant win games by merging the thrill of winning money with the fun of casual and mobile games.
“We analyze millions of game sessions across play-for-fun gaming and real-money gambling markets including iOS, Facebook social gaming, and lottery instant win games,” said Jay Aird, Chief Innovation Officer for Karma Gaming.
Many of Karma’s titles include unlockable mini-games and achievements for added player excitement. Karma’s games can be played cross-platform – for online computer (Flash), mobile (native iOS and Android) as well as HTML5 mobile.
“We are thrilled to announce our relationship with OpenBet, which enables us to distribute our games to a global audience, especially European markets,” said Karma Gaming Chief Executive Officer Paul LeBlanc. “We look forward to collaborating with OpenBet and utilizing their platform and extensive knowledge base as we continue to create new and exciting content for gaming audiences.”