A report in the Mail On Sunday today has reported that a new deal that could be structured to free up some of Gala's debt could see the return of John Kelly.  Mr Kelly was replaced early last year by the current chairman Neil Goulden, but since the departure of Mr Kelly and the introduction of the smoking ban, the company is struggling to find money for re-investment

Mr Roger Cooper, a former colleague of John Kelly and now a multi-site bingo operator spotted the news in the press this afternoon and is said to be delighted at the potential return of a person who has an iconic reputation in the bingo industry.  Mr Cooper commented "I think the report is speculation at the moment but if it turns out to be true, I think this will be a real positive step for the ailing bingo industry."

He went onto say "My company is still standing quite well in these difficult times but unfortunately my estate is not big enough to increase the market for bingo in the UK and the future of my business is actually dependent on firms like Gala Bingo to stimulate growth and popularity in the bingo market"

Bingo Supermarket have reported a number of Gala Bingo club closures this year and the fact they are still trying to free up cash within the business without breaking their banking covenants. The speculation in the press over recent weeks is that some of the Gala Bingo lenders are willing to write off £540 million in loans for a stake in return.  The two investment groups interested in the investment are Intermediate Capital and Park Square, it is hoped the deal will be finalised by the end of the month according to The Mail On Sunday.