Gala Group

Business

Gala’s emergence as the UK’s fastest growing gaming operator is a classic buy and build case history and dates back to the original MBI in 1997 when Bass (now Six Continents) divested 130 bingo clubs:

1997 Silverfleet Capital led £236m MBI

1998 £36m acquisition of Ritz Bingo Clubs

1999 £21m acquisition of Jarglen Group

2000 CSFB acquires majority stake. (Silverfleet Capital retains stake)

2000 £90m acquisition of 27 Riva Bingo Clubs

2000 £235m acquisition of Ladbrokes Casinos

2001 £1m acquisition of Jamba online

Divestment

We and CSFB completed the €1.8 billion sale of Gala Clubs to Candover and Cinven in February 2003.

Silverfleet contact: Kay Ashton