Despite the closures, (at the minute!) the Gala Coral Group own 24.4% of all UK Bingo Halls, making them ‘technically’, the largest Bingo Operator in the UK. Gala also own Gala Casino, as well as the Coral Betting chain of bookmakers. And of course, the Coral Betting website. Things haven’t been good for Gala lately, with closures, streamlining, and massive debts threatening to remove them from their top spot. Permanently. Despite the fact they could seriously do with some good news, looks like it’s more bad news. The Power 50 Survey revealed that Gala have dropped from a more than respectable 11th place, right down to 36th. One more drop like that one, and they will be out of the picture, altogether.
Without doubt, the results reflect the company’s falls in revenue V mounting debts. Like many UK Bingo Hall Operators, Gala Bingo have felt the consequences, of the introduction, of a public No Smoking ban. This, coupled with a worldwide recession and the introduction of Online Bingo, was fair destined to cause some damage. Reduced revenue has led to mounting debts, and it has been alleged that Gala Coral are “in” for more than two Billion. Repayments alone being more than £200million. Unfortunately, things have gone bad to worse for Gala Coral. The Power 50 Survey has gone a long way to revealing the true extent of the damage. Overall, within the British gaming industry. And it’s not at all promising.
This was an article by Lisa for Bingo Faces on Gala Coral Power 50 Results
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