A New Giant In UK Gambling?
Published: Friday, October 07, 2005 Online-Casinos.com
A NEW GIANT ON THE BLOCK?
Speculation that Coral Eurobet the target for Gala
The intense interest in online casino gambling mergers and acquisitions continued this week in the British business press with reports that the major land casino and bingo group Gala may have its corporate eye on bookie group Coral Eurobet.
Some reports linked Gala with private equity group CVC Capital in speculation as to likely suitors for Coral, which is valued at some GBP 2 billion but is encumbered with GBP 1.2 billion of debt. The group has betting shops in the UK and a strong online brand in Eurobet.
Coral has been exciting interest since its owners appointed Lehman Brothers to prepare the firm for a flotation on the London Stock Exchange (see earlier Online-Casinos.com and InfoPowa reports). There has been persistent talk of an IPO in London before the end of this year, but equally strong rumours that an outright sale might be in prospect.
Talks between Gala's three private equity backers, Permira, Candover and Cinven and the private equity group that owns Coral, are reported to be at an advanced stage.
A successful Gala takeover would make the Gala-Coral group the UK's biggest betting and gaming group - a powerful new presence in the industry.
An old favorite brought back under a new software brand, U.S. friendly.
Use just one account to access poker, sports book and casino gaming.
Excellent number of high-quality games and great support.
Nice sign-up and on-going bonuses with fast cash withdrawal processing.
Good selection of fun games including some new, innovative games on offer.
Huge sign-up bonus with reasonable wagering requirements and an excellent look and feel.
New players receive an insane 200% bonus up to $1000 free on both their first and second deposit.
New players offered up to $888 free in sign up bonuses, a special bonus available for blackjack players as well.
