Recent reports in the Observer and subsequent national press reports indicating that Gala Coral may be forced to split and sold off to raise capital are being strongly denied, claiming the journalist of The Observer was being Speculative. The press report that was covered a few days ago on the Bingosupermarket site has provoked a strong reaction from the Gala Coral Group.

A spokesperson for Gala Bingo told industry trade magazine Coinslot that the press coverage was inaccurate. The article stated that Gala Bingo has no plans to sell off any assets and the current financial is sustainable with £200 million sat in the bank and will pay the immediate debt payment on schedule.

The story was not without substance as there was a document produced touting Gala as a potential investment, but this was intended as an ideas generation or brainstorming session. The information did come from the bank but Gala Coral have strongly denied this came from the lending part of RBS and rubbished the claims with the Gala spokesman stating, "Somebody, Somewhere in a dark corner came up with a few ideas".

Gala Bingo Chairman, Neil Goulden was reported to be 'incensed' by recent press reports in the Guardian and Observer. Mr Goulden has told industry magazine Coinslot "The article in my opinion was deliberately misleading, the journalist knew full well that the document he has in his possession was prepared by Global M&A from Royal Bank of Scotland effectively touting around international gambling companies there might be an opportunity at Gala Coral. It was not discussed with our lenders and not discussed with us, it was a speculative piece of work by them".

Gala Bingo Chief Neil Goulden has already spoke to the Chairman of Global M&A and received apologies whilst talking steps to make sure these unhelpful and speculative reports don't reoccur. Mr Goulden praised the RBS lending services as being very supportive and constructive, but also pointed out that a separate part of RBS who had instigated the press reports without talking to anyone was unprofessional and stated "they have singularly failed in their duty of care".