Tough times for Gala Coral

The Financial Times reports that Gala Coral is about to reduce its five operating divisions to three in an advance planning initiative designed to prepare the company to weather the tough recessionary times that lie ahead. Apparently the company has already warned staff that up to 200 jobs may have to be axed in the new plan.

CEO Dominic Harrison confirmed the plan and said that the bingo and casino divisions would be merged, and Coral betting shops would be aligned with Eurobet equivalents in Italy.

Harrison said that although trading was at present satisfactory, "...this is about planning for a downturn. Like everybody else, we are seeing pressure on the disposable pound."

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