Major UK bingo clubs group Gala Bingo is preparing for a significant overhaul of its business, rebranding and selling off some of its locations.
The company, owned by private equity group Caledonia Investments since 2015, will not only sell off some of its sites but will also offer other companies the opportunity of taking up excess space within its locations.
The last available set of figures for Gala (2015) revealed an operating profit of £746,000, down five per cent, but pre-tax profits dropped from £40.9m in 2014 to £1.9m, mainly because repeat business from existing customers did not emerge.
It is rumoured that the name being considered for the rebranding is Buzz Bingo. It is thought to have approached major supermarkets about co-habiting some of the locations, as well as fitness companies.
