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Who's Got it Right

The news has been heating up this week with reports that Gala Coral is denying all reports that the company is looking to be sold as a way for the company to pay down some of its debts. Gala is a pretty big name in the online casino gambling industry and the gambling group has noted that although there are valid outstanding debts in place that the company is regularly paying down, that all of the debt payments are on track and that the gambling group is not interested in a sale. This is quite different from the picture painted in The Observer last week with an announcement from the Royal Bank of Scotland that Gala was looking toward a sale as a way to pay down debts.

There is confusion though in the online casino gambling industry now as the newspaper’s report is being claimed as false and all of the sale-related claims have been adamantly contested and countered by management at Gala Coral. Who is right is the question? In this case there is really no choice but to go with Gala on the subject –the company is not allowed to blatantly lie about plans such as a sale because of how it affects stock values so there is every reason to assume that the Gala brand is still going strong and working to pay off debts.

Gala has additionally stated that the online casino gambling group did not give the Royal Bank of Scotland permission to release that information or make those claims. Gala has formerly dismissed the report as not accurately reflecting the gambling group’s true situation, finances, and long-term company goals.