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Gala Bingo finally talks about the company split

Written by: Nikola Zugic on 04/08/2009 16:00
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Recently, we have heard about news that Gala Bingo is going to be split. The RBS bank has proposed that they split the company and sell it off in parts to be able to meet deadlines for the company’s debt. So will Gala Bingo survive? What is Gala Bingo’s take on this?

In reality, Gala Bingo was incensed by the recent reports that have been coming out. They are not happy about the rumors and the proposals being circulated in the online bingo news for the past few days. So now, they are answering the questions and sending them out to the press. They have denied the rumors about needing to break up the Gala Coral Group, the owner of Gala Bingo and having to sell it to pieces. In fact, they are very positive about the company. The group said that they can actually take other measures just so they can save the whole Gala Bingo as it is.

They asked the magazine Coinslot to take their side of the news and their spokesperson made it clear that the press coverage that had been circulating in the bingo industry was inaccurate. They said that they are not selling off any of their assets and that they currently have a sustainable financial status with about two hundred million pounds sitting in their bank. This means that they can actually pay off their debts on schedule. No default will be happening.

They said that the idea could have branched out from a document showing that Gala Coral could be a potential investment. However, it was intended for a brainstorming session or ideas generation. It did most likely come from the bank. However, they do not believe it came from the lending part of RBS. In fact the spokesperson even said these exact words, "Somebody, Somewhere in a dark corner came up with a few ideas".

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