Gala Coral romps home to victory after Grand National

Bookies Gala Coral benefitted from a good performance at the Grand National this year, offsetting losses made at Cheltenham.

The business, on course for a £2.2 billion merger with rival Ladbrokes, said earnings before interest, tax, depreciation and amortisation rose 16% to £124.6 million versus last year.

Outside runner Rule the World, who was 33-1 to win, clinched victory at the National this year helping deliver better results for Gala.

A string of odds-on favourites romping home at Cheltenham had left it nursing sore losses.

Revenues rose 13% to £604.9 million for the 28 weeks ending April 9 against the same time last year.

Gala Bingo, the company’s line of bingo halls, saw net revenue rise by 15% to £47 million due to higher spending customers and more mobile phone betting.

Online revenue alone rose by 35%, led by a strong performance from the Coral betting website which saw money made from sports betting double.