• Richard Sowerby to leave Gala group

January 19, 2006 - Richard Sowerby, one of two founding directors of Gala, is to leave after almost 10 years with the bingo and gaming group. Mr Sowerby, 53, joined Gala as its sales and marketing director in 1997 following a management buy-in from Bass. His decision to retire follows the recent £2bn acquisition of Coral Eurobet, a deal which transformed Gala into the UK's largest privately owned betting and gaming group. When Mr Sowerby joined Gala, it was worth £235m. Following several refinancings and the Coral acquisition, the group is now worth £4bn, including debt.

> Read the full story here Source: Ateonline.co.uk

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