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Gala Bingo Considers Rescue Plan
It is no secret that land based bingo in the UK is in real trouble financially. The draconian national smoking ban hit bingo clubs hard and then came a rise in taxation. For some reason bingo is taxed at a higher rate than any other form of gaming. For gaming companies that operate internet bingo websites the passage of the internet gaming ban in the US caused a drastic drop in revenue and a serious decline in publicly traded gaming stocks. A recent Reuters report states that UK bingo industry giant Gala Coral Group is presently saddled with about 2.7 billion pounds of debt.
Gala was forced to let hundreds of valued employees go and close many of its popular bingo halls across the UK. In 2009 reports of gala bingo club closures became common in the press. Gala also operates a highly successful internet bingo website. Without private investment Gala faces a bleak future indeed. A few years ago when reports said Gala was foundering US gaming giant Harrahs made a bid for shares of Gala. At the time Gala was able to repel any hostile takeover.
In November it was reported that private equity firm Blackstone made a £300 million pound bid for 40 to 60% of the shares. Despite denials from Gala it has been reported that Gala is actively seeking private equity investors to stave off collapse of the company. A recent report from news agency Reuters said the bingo giant had been approached by US private equity firm Apollo. Apollo submitted a plan to Gala which said Apollo would pay 250 million pounds ($405 million USD) for half of the company. The conditions of the Apollo deal say that 250 million pounds would be paid to Galas senior lenders and junior lenders would receive the other half of Gala.
Gala has entered the world of internet bingo with some success. Gala provides players with a generous bingo deposit bonus and free play options. Gala also offers a bingo sign up bonus to players. Like most other UK based bingo sites Gala has increased the size of its bingo bonuses to compete with others in the internet bingo industry.
Galas situation highlights the troubles of the brick and mortar UK bingo industry. Internet bingo, on the other hand, remains a thriving and growing industry. Internet bingo has defied the global recession and remains profitable for internet bingo providers. Gala may want to consider focusing on its online operations.
No Deposit Bingo Online
In recent years the online bingo industry has rapidly grown and hundreds of bingo websites are competing for new players. This competition has benefited players in many ways. Bingo sites are offering bigger bingo bonuses, more player perks and larger jackpots. Many sites now offer free bingo and no deposit bingo has become very popular. No deposit bingo has become a tried and true marketing strategy for the online bingo industry. It is not difficult to find a site that offers no deposit bingo and many bingo portals maintain a database of online bingo sites that offer no deposit bingo and many have reviews of each site.
No deposit bingo bonuses are a perfect solution for beginners who wish to try their luck without wagering real money. No deposit bingo bonuses are usually for a set amount of free play but players can win prizes and cash while playing free no deposit bingo. Terms and conditions vary from site to site and it is always a good idea to check these to avoid any disappointment or misunderstandings. Terms and conditions can usually be found in the FAQ (frequently asked questions) section. Players using the no deposit bingo option can try out the various bingo and slot games. Most bingo sites offer traditional 75 ball bingo, 90 ball bingo and the new 80 ball version of the game which is rapidly gaining in popularity.
Thanks to the fierce competition between bingo sites players have never had it better. Bingo sign up bonuses are at record levels and some sites are offering as much as 500% on an initial deposit. Re deposit bonuses can be substantial and most sites have player loyalty programs and refer a friend bonuses. Daily, weekly and monthly promotions are common along with special holiday themed promotions and bonuses. Most bingo sites inform players of new promotions via email and many promotions are limited to those who are registered at the site and are not available to the general public.
In the UK the implementation of the national smoking ban and the governments policy of double taxation of bingo have caused many bingo halls to close and players are going online to play their favorite game. Smokers can puff away while playing bingo at home and busy mothers can play on auto pilot while performing other tasks. No deposit bingo is just one of many factors that have contributed to the rapid growth of the online bingo industry.