Private Equity Enters Gambling
Filed in archive Private Equity on December 16, 2007
The Times Online says it's bingo!
Gala Coral, a British gambling operator backed by private equity funds, has managed to get a license to operate a bingo club in Hebei Province in China.
It's the first bingo club in China. But Gala Coral hopes that the Chinese infatuation with numbers and luck will help them open one hundred or so such clubs in Hebei.
Gala Coral has to get a license from the central government in Beijing now. But company official don't think that will be a problem because of the low stakes nature of bingo gambling.
Gala Corals is involved in gambling enterprises in a number of countries and on the Internet.
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Tags: Gala Coral Private equity hebei gambling china private+equity
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