Investment trust to buy Gala Bingo

Tue, 27 Oct 2015 | BUSINESS SALE

Gala Bingo is to be sold to investment trust Caledonia in the latest change within the betting sector this year.

Caledonia has agreed to a sale price of £241 million, which will see it take on Gala's 130 bingo clubs and over a million members.

The chain is the largest UK high street operator and holds 38 per cent of the UK's retail bingo market. The firm's parent company, Gala Coral, will hold onto ownership of the online division, galabingo.com.

Duncan Johnson, head of unquoted investments at Caledonia, said that Gala has a “defensive, enduring business model”, which not only offers strong cash generation, but also a good dividend yield, meaning that it fits “ideally with the investment criteria sought by Caledonia”.

The gambling sector has seen a lot of M&A activity this year, with Gala Coral itself in the process of a buyout by rival firm Ladbrokes. This £2.3 billion merger would create the biggest bookie in the UK but is currently under close scrutiny by the Competition and Markets Authority due to the fact that the combined company may be simply too big.

Meanwhile, online giant Betfair has recently purchased Paddy Power's and other online operators 888 and Bwin are also in the process of a merger.


View other businesses for sale.


Share this article



Latest Businesses for Sale

Fintech Company: Comparison of Trading Platforms for Traders
UK Wide

Extensively developed platform, generating a consistent stream of revenue from affiliate agreement commissions and contracted advertising packages. The company compares trading platforms operating in forex, stocks, crypto and commodities. Fully reloc...

Asking Price: Offers Invited
Turnover: £666,305

RELOCATABLE


Electrical Product Specialists
Hampshire, UK Wide

A great opportunity to take on a respectable electrical control panel manufacturer in Hampshire is now available to the market. High end technology. Registered ECA member. Commercial client base. Skilled team of staff. Excellent reputation. Offers in...

Asking Price: £900,000
Turnover: £578,207

LEASEHOLD


Coach Transport, Services, MOT & Repair (Fast Sale)
London, UK

Offers required by August 26th, 2020 - 6:00pm. Established in 1971, this North London based coach company operates a fleet of 14 executive/luxury coaches (7 of which are unencumbered) with seating for up to 70 passengers, and 1 wheelchair accessible...

Asking Price: Offers Invited
Turnover: £1,100,000


View more businesses for sale

News Search

Latest News

 
07
 
Aug
 

Wrexham-based wire firm falls into administration | ADMINISTRATION

Wire manufacturer Wrexham Wire has fallen into administratio...

 
06
 
Aug
 

Leading UK tour operator Ski Weekends enters administration | ADMINISTRATION

One of the UK’s leading ski tour operators Harris Holi...

 
05
 
Aug
 

Pizza Express puts itself up for sale and looks to close 67 outlets | BUSINESS SALE

Pizza Express has announced that it is seeking a buyer for i...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
10
 
Oct
 

William Hill in '£4.5 billion' merger discussions with owner of PokerStars | MERGER

William Hill, one of UK’s leading betting companies, i...

 
06
 
Jul
 

Investment firm buys up pub and brewery group | BUSINESS SALE

Liberation Group, a pub and brewery business, is to be bough...

 
20
 
May
 

400-shop sell-off in Ladbrokes and Coral merger | MERGER

The proposed £2.3 billion merger between betting giant...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources