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Acting Without Permission

Gala Coral is a prominent name in the UK land and online casino bingo gambling industry – the brand is well recognized and has been operating in the market for quite some time. But longevity is not necessarily a key to success. The Gala brand is well respected and once had a whole lot of success in the land bingo industry. But the rise of the online casinos and then new regulations in the UK that ban smoking at the bingo halls has had a significant effect on the gambling group – it’s in massive debt. The company is so far into debt that the Royal Bank of Scotland has actually taken the initiative to seek out investors willing to help Gala pay down some of the mounting debt.

The only problem with this scenario is the fact that Gala Coral did not actually approve the actions and the RBS is acting without the permission of the land and online casino bingo gambling group. Although the RBS is not hugely affected by the company’s debt, the RBS has a lot of influence in the industry and investors could be a really positive solution for the land and online casino gambling which is a reported GBP 2.7 million in debt.

One reason that the RBS has gotten involved is because of the deadlines now facing Gala for the debt repayment process. Gala is still not turning over profits and the that is a serious problem considering the land and online casino bingo gambling group has a deadline in September to repay GBP 80 million. That repayment deadline is just the first of many looming deadlines and with the RBS’s help, even through it was not asked for, there is a chance that Gala Coral could find interested investors.