Gala Coral Group, the biggest British casino and bingo operator, announced that its two online platforms Gala Interactive and Coral Interactive will be joined together. Carl Leaver, current CEO of The Gala Group, appointed Andy Hornby, former chief operating officer of HBOS Plc, as the manager of the new merged enterprise.
It became clear from the official statement the group released for the press a few days ago that Gala Interactive/Coral Interactive will collaborate more actively with the Retail Division of Coral.
Although the current manager of Coral Interactive John O-Reilly is handing his position to Hornby, he will still work for the company as a consultant.
Leaver commented on the merger as being the result of Gala’s thriving online platforms during the past several years. He stated that it was about time for the divisions of the British Group to join together, and for its employees to share their expertise and knowledge in order to achieve collective well-being. Leaver also expressed his gratitude towards John O-Reilly, pointing out that he was, and still is an indispensable asset to the company. “He will be missed as a key member of our senior executive team,” he said “but I am delighted not to be losing him completely.”
The announcement was issued not long after the press wass informed that Gala’s earnings for the third quarter of 2014 added up to £67.2 million, which is 18% more than the Group generated the same time last year. Leaver claimed that the online segment contributed largely to the excellent financial performance.
It was in September 2013 when The Gala Coral Group last made the headlines. There was a rumor circulating that the company’s shares were to be offered on the stock market. And having Hornby in the lead of another potentially floating enterprise, was something that the media found particularly interesting.
Andy Hornby became part of the British gaming operator as a chief executive of Coral back in 2011. This was about the same time when he notoriously stepped into the spotlight for reportedly leaving HBOS’ sinking ship, appropriating the sum of $2.4 million, while more than 16,000 members of the bank’s workforce remained unemployed.
The UK Parliamentary Commission on Banking Standards, appointed to report on the HBOS’ case, concluded that the bank crisis was due to Hornby’s poor stewardship. Baroness Susan Kramer, a Liberal Democrat, stated that if he and his collaborators were honorable people, they would have “stepped down”. Her reaction was due to the rumor that HBOS shares, amounting to more than £2 billion, were sold out.
Despite the accusations, Harnby did not apologize or withdraw from the world of business. What is more, it appears that he is keen on getting even more involved with the segment.
HBOS accumulated debts of almost £240 billion under the new Gala Interactive/Coral Interactive manager’s stewardship.
