There have been reports made that the popular online offering, Gala Bingo, is about to offload their high street premises and is preparing for a complete rebrand and a change of name.
The brand has been owned by Caledonia Investments since 2015. After making profits of £40.9 million in 2014, its business has declined colossally in the following year, marked by a total of a mere £1.9 million in profit. This is mainly impacted by the shifting landscape of bingo playing, with more and more players abandoning bingo halls for an online gaming environment.
Therefore, excess space at the brand’s locations that performed particularly poorly will be shared by other businesses. In addition to that, such locations will be renamed. It is not yet known what the new name will be, though according to word of mouth, the tentative game plan for a new beginning will take off under the moniker, Buzz Bingo.
A representative from the brand has said that they, "regularly review opportunities to invest in their estate and create added value services for their customers."
He added: "There may be occasions where clubs are considered for disposal but this will be on a case-by-case basis."
We are looking forward to more details on this subject and will share them with you as we learn more.
Source: "Gala Bingo looks to offload sites as it considers a rebrand" Telegraph. September 2, 2017.
The brand has been owned by Caledonia Investments since 2015. After making profits of £40.9 million in 2014, its business has declined colossally in the following year, marked by a total of a mere £1.9 million in profit. This is mainly impacted by the shifting landscape of bingo playing, with more and more players abandoning bingo halls for an online gaming environment.
Therefore, excess space at the brand’s locations that performed particularly poorly will be shared by other businesses. In addition to that, such locations will be renamed. It is not yet known what the new name will be, though according to word of mouth, the tentative game plan for a new beginning will take off under the moniker, Buzz Bingo.
A representative from the brand has said that they, "regularly review opportunities to invest in their estate and create added value services for their customers."
He added: "There may be occasions where clubs are considered for disposal but this will be on a case-by-case basis."
We are looking forward to more details on this subject and will share them with you as we learn more.
Source: "Gala Bingo looks to offload sites as it considers a rebrand" Telegraph. September 2, 2017.
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