Tag Archives: Caledonia Investments

Buzz Bingo has announced that it will close nine of its 91 clubs due to an “ongoing and challenging operating environment”.  The closures will impact a likely 151 staff members of the bingo operator’s 2,500 UK workforce, to whom “Buzz is committed to supporting at this difficult time”. Media was informed that Buzz will proceed to close down its venues …

Flutter Entertainment Plc has disclosed that London activist fund Parvus Asset Management has built a 7.1% shareholding in the FTSE100 betting group. The activist’s shareholding was brought to the public’s attention, as Flutter informed investors that Parvus had reached its ‘7% threshold on voting rights’ that required disclosure to markets. Parvus’ 7.1% shareholding has been built by ‘way of equity …

FTSE250 Caledonia Investments has disclosed that it has sold its majority stake in Buzz Bingo to asset management fund Intermediate Capital Group (ICG) for a ‘nominal amount’. The London private investment trust has served as Buzz Bingo majority shareholder since 2015 – acquiring the Gala Bingo brand for £240 million ahead of previous owner Gala Coral’s merger with Ladbrokes Plc. …

Buzz Bingo has revealed plans to close 26 of its UK venues in a move that will place 570 employees at risk of losing their jobs.  The UK’s largest bingo hall operator stated that it had undertaken the drastic actions to ‘protect the future of its business’ as it seeks to mitigate pandemic circumstances affecting the entire leisure and hospitality …

Reporting on its year to date performance (period ending 30 September), Gala Coral has recorded Group EBITDA earnings of £205 million, just 1% ahead of 2014’s £202 million. Gala Coral governance stated that corporate performance had remained strong despite encountering significant regulatory headwinds and a tough comparative period which featured no World Cup to boost company performance. The operator maintained …