Gala Bingo are to close more bingo halls

8th October 2009 11:40 AM

News that Gala Bingo are to close more bingo halls will be of no surprise. It is no secret that Gala Coral who operate Gala Bingo have been struggling financially since the smoking ban came into force and the more recent recession. Over recent months Gala Bingo never seems to be out of the news with one bingo hall closure after another. More recently they dominated the news with the ongoing talks of  their £540 million debt-for-equity-swap.

This seems like a wise move by Gala Coral as the deal means they can invest in the business and not have to use their saved resources to manage their debts which amount to more than two billion. We expect a conclusion to these negotiations by the end of the month.

On the foot of these negotiations, Gala Coral say that they will be closing at least five more  Gala Bingo halls by next June. With so many people turning to online bingo sites to play bingo and now with the announcement of more halls to close, this will only encourage more  people to turn to internet bingo sites t as an alternative to their local Gala Bingo hall.

Although it is sad to see bingo halls close as this means a loss of jobs, this is probably a wise move is today’s climate. It would be reckless to invest huge amounts of money into something which is failing and a better move to invest in something which is dominating the market, such as online bingo sites. As Gala Bingo operate the own online bingo sites and considering today’s trend there is no reason why they can’t move forward.  The Gala Bingo internet site is just as competitive as any of the other bingo sites which operate today and they could find themselves with a big advantage in that they are a well known and trusted name and  people who have used their halls who now turning to bingo sites are more likely to use the Gala Bingo sites than any other.

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Written by Hannah Jones

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