Gala Bingo To Sell Sites to Fund Rebrand

13/09/2017

Reports in the National press suggest that Gala Bingo’s parent company Caledonia Investments, is looking for buyers for some of its sites.

In addition, the group is offering space in some locations to third party company to rent.

Gala Bingo’s operating profits fell by 5pc to £746,000 in 2015, which is the latest set of available results, but pre-tax profits dropped heavily from £40.9m in 2014 to £1.9m, almost entirely due to ­payments from other group companies not being repeated. It appears that Gala has been hit by a shift in bingo players moving online.

Both galabingo.com and galacasino.com are owned by bookmaker Ladbrokes Coral meaning a rebrand would likely be needed if Gala Bingo is to make a push online. Gala is understood to have approached supermarkets Co-op and Nisa about whether they are interested in any of the Gala Bingo sites, as well as gym businesses Gym Box and The Gym, and frozen foods supermarket Farm Foods.

A spokesman for Gala declined to comment on the rebrand but said that the company always reviewed its ­estate.

 

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