Buchwert von Gala Coral per heute: NULL
Gala Coral is ‘worthless’ as private equity counts costs
The private equity owners of Gala Coral have conceded that their investments in the gaming group, which was once valued at £5 billion, are worthless, only a year after pumping £125 million into the company in an attempt to prop it up.
Candover, one of Gala Coral’s three owners, said yesterday that it had written down the value of its holding in the company to zero, having previously written it down by 50 per cent about a year ago.
The Times has learnt that Cinven has also written off its investment in Gala, while SVG Capital, the listed feeder division of Permira, the gaming operator’s third owner, wrote down its investment to a nominal figure in December.