Bingo giant to offload sites, says report
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Nottingham-headquartered Gala Bingo is looking to sell some of its sites, according to reports over the weekend.
The Telegraph reports that Caledonia Investments, the private equity firm that owns the bingo giant, it looking to offload some of its venues – as well as offering partner companies the chance to take up excess pace in certain locations.
The report doesn’t mention sites by geography, but say the move is in response to a forthcoming rebrand.
Gala Bingo’s operating profits fell by 5% to £746,000 in 2015m but pre-tax profits dipped alarmingly from £40.9m to £1.9m.
Caledonia bought Gala Bingo in 2015. The Telegraph reports that the firm has approached supermarkets such as Co-op and Nisa to enquire whether they would be interested in buying certain sites, as well as gym brands such as Gym Box and The Gym.
A spokesman for Gala told The Telegraph: “We regularly review opportunities to invest in our estate and create added value services for our customers.
“There may be occasions where clubs are considered for disposal but this will be on a case-by-case basis.”