Bookmaker Gala Coral Group is busy preparing for its mega merger with rival Ladbrokes.

On Monday, the UK bookie announced it already completed the sale of its 130 bingo clubs for £241 million. The clubs were part of its Gala Bingo retail division, which the company sold to buyout firm Caledonia Investments plc in October.

Under the agreement, Gala Coral will retain both the Gala brand and the websites Gala Retail and Galabingo.com, and the bingo clubs will continue to trade under the Gala brand through a license agreement entered into by the two parties.

“The relationship between Gal Retail and Galabingo.com will be governed by a collaboration agreement which will ensure that the two businesses take full advantage of the multi-channel opportunity, already developed successfully by Coral,” Gala Coral said in a statement.