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Gala Bids Coming In

The online casino gambling industry media has been full of speculation over the past several months about the future of Gala Coral and if the company is prepping for a merger or looking to sell out to a larger or complimentary gambling group. Although Gala Coral denied any chance of merger talks at first, the company has changed its tune more recently as the details of new negotiations and offers bounce around the online casinos and industry companies. The latest news indicates that Apollo Group has proposed a whopping GBP 250 million for a 50 percent share in the gambling group. This line of talks is likely more agreeable to Gala Coral – the online gambling group has expressed a very real interest in staying as independent as possible while still staying fully afloat and competitive in the market.

The previous key reports in the industry indicated that the Blackstone Group was in negotiations with Gala Coral for an acquisition of the company’s assets. There is no new word on the Blackstone Group offer, but the Apollo offer seems, at least from the current information released, to appeal to the many of the company’s desires. It would provide an influx of cash into the online casino gambling group that would infuse money into the company that could go toward covering the new UK gambling taxes that are threatening the company’s viability.

The Gala Coral online casino gambling group has a lot of brand equity in the international bingo and chance gaming market with assets in both the land and internet UK gambling industries. That is not something to take lightly and the company has some real potential if it can straighten out the tax situation with the UK government.