Gala Coral Profits Raise And No Club Closures Expected - Old News Archive
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Posted On: Sunday, 16 December, 2007
News from the FT that Gala Coral have seen a profit rise in its last year of trading. The rises come on the last trading year up to September 2007, so the changes brought in to by the 2005 Gambling Act affecting gaming machines won't real have bitten in much with this report, but it does take in to account a couple of months of Bingo trading under the smoking ban. The actual land based Bingo sector of the group has seen a fall in 10.7% fall in earnings, so it's not all good news for the game.
However, the group is in a strong position as a whole, which will help offset problems in the Gala Bingo area of the group. Gala Coral chief exec Neil Goulden comments that they are not expecting to have to close any Gala Bingo halls following the results, but warns that up to a 100 Bingo clubs around the country could close as a result of the climate. He also mentions that if conditions worsen, the group may need to look at closures again.
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