Online Betting a Good Gamble for Gala Coral

Published Saturday, December 08, 2012 - Online-Casinos.com

European gambling firms have been moving their efforts forward to succeed online with mixed results. Gaming group Gala Coral has reported a positive gain in the last year and it says it owes much of its increased profit to the new web locations it has created. The company’s turnover experienced an increase of 6 percent over 2011.

Carl Leaver, Gala Coral’s chief executive revealed, “2012 has been an important transitional year for the Group. We have restructured into key operating divisions, bedded in a new operational management team and invested in our retail estate and online systems. This has resulted in the first growth in profitability for over five years against the backdrop of a difficult environment for retail and leisure businesses,” Coral reconfigured its web site with the Playtech platform with good results. The site saw sports betting amounts staked increase 26 percent without putting the Euro 2012 football competition numbers into the mix. The gaming gross win increased by 31 percent better than last year. All and all Gala Coral was in the black with added capital in the making through the pending sale of 23 brick and mortar casinos to Rank Group. This ongoing process has yet to be approved by the Competition Commission which will rule on the purchase before the end of the year.

The CEO, Lever continued to explain the direction of the Group,“Our retail businesses experienced some softening in top line trends over what was a disrupted summer period, and these trends have continued into the new financial year. On the plus side, July saw the launch of our new galabingo.com website, and early growth from both this and the new galacasino.com website has been positive. With the re-launch of the coral.co.uk in October our new interactive businesses are now fully up and running and we are targeting significant growth over the forthcoming year”.

Related news

Return to Latest News