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Changes Afoot at Gala

A major overhaul at the Gala Coral Group this month is just the latest in a set of changes at the online casino gambling group that are expected to really turn around the profitability of this major company and strengthen the company’s signature brands. Over the past year in particular the Gala Coral Group has encountered serious issues regarding the company’s unmanageable and growing debt – there was even talk for several months that Gala Coral was considering a merger or takeover as a way to keep the brand afloat. Gala Coral operates several major land and online casino gambling brands in the European market right now; these sites are growing steadily but harsh UK taxes over the past several years has nearly sunk the company.

Right alongside last month’s announcement that Gala Coral had eliminated a huge portion of the company’s debt comes a change in the upper level management at the land and online casino gambling group. Gala managed to eliminate a huge portion of debt by restructuring the company and switching from private equity owners to a new structure that welcomes in other investment groups such as Goldman Sachs, Apollo, and Cerberus. The biggest change announced for Gala is the switching of Chief Executive Officers this fall. The current SEO of Gala, Dominic Harrison, is stepping down from his position and will be replaced on October 1, 2010.

Additionally, Neil Goulden will take over as interim CEO while the newly restructured online casino gambling group seeks out a new management team. Gala has some strong brands and gaming sites operating under the brand and all of the new restructuring and management changes are expected to build a stronger and more profitable gambling group in the long term.