UK gaming operator Gala Coral has sold off 47 of its bingo properties to Prudential Group subsidiary M&G Investments, with the sale of a further five to follow.

The company’s property subsidiary 2005 Propco Three has handled the sale, with the 47 venues to be sold to M&G for a total consideration of £173.4m. The operator will remain a tenant and continue to operate in the properties, having signed a 25-year lease for each.

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