Gala Coral has 132 bingo clubs, worth a total of £250m – and is currently in the process of selling!
National press reports suggest that a sale is “4 to 6 weeks away.”
Other reports have revealed the identity of several companies that are said to be preparing bids for Gala Coral’s UK bingo business.
Germany’s Gauselmann Group has been named as a potential suitor – alongside Bridgepoint, Rish Capital Partners and OPCapita.
Lorne Weil, former chief executive of Scientific Games, has also been linked to a potential bid. There are rumours that he will form a US acquisition company in order to go ahead with an offer.
Simon Wykes is the current Gala Bingo managing director and he is currently preparing a management buyout of the brand.
Gala Coral is yet to confirm if any bid has been placed.
Further developments look to be potentially very interesting!