Gala Coral Pursues Bingo Sale

Sun, May 31, 2015

British bookmaker Gala Coral continues to explore the possibility of selling its 132 bingo clubs in the U.K. The clubs are said to be worth around £250 million (US$383 million).

A number of potential investors have been identified as British bookmaker Gala Coral considers selling its 132 bingo clubs throughout the U.K.

In addition to a buy-out offer led by Gala Bingo Managing Director Simon Wykes, others in the running include the Gauselmann Group of Germany and private equity firms Bridgepoint, Risk Capital Partners and OPCapita. Lorne Weil, former CEO of Scientific Games, is also said to be weighing a bid.

Gala Coral is the U.K.’s third largest bookmaker with more than 1,830 shops, behind William Hill and Ladbrokes.

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