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Potential Buyer for Gala Bingo

Potential Buyer for Gala Bingo

Written by: ava carson on 12/08/2014 08:05

Gala Bingo a division of the Gala Coral Group has been seeking to sell for over one year at the tune of £250m. Potential buyer Henry Jackson is preparing a bid according to certain reports.

Mr. Jackson responsible for the takeover of Comet the collapsed electrical groups has showed an interested in the Bingo investments.

Some of the biggest investors have looked over Gala Bingo but due to the struggle in the industry with falling customer traffic, high taxes and smoking ban it has been met with mixed opinions.

Top financiers who have consider a potential bid include Hugh Osmond of Pizza Express and Punch Taverns and Luke Johnson Channel 4 Chairman.

Recently the Bingo industry has taken a turnaround since the recent budget reduced Bingo duty from 20 percent to 10 percent.

Gala Coral sold their Casino division to Rank early last year. Rank owns Mecca Bingo and was a strong competitor for Gala Bingo.
 

Categorised Under: Bingo News,
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