Rank in £250m talks to take over Gala casinos
Leisure operator Rank Group is in talks with Gala Coral’s casinos business, for an estimated £250m deal that would make Rank the largest casinos operator in Britain.
The talks follow a programme of modernisation for Rank’s Grosvenor Casinos brand, the most profitable division at the leisure group that also owns Mecca Bingo, Top Rank Espana and online gaming company Rank Interactive.
Revenue for Grosvenor Casinos rose by 5.8 per cent to £123.4m for the six months to 30 June 2011, while operating profit rose by 14.8 per cent to £20.2m.
Both Rank and Gala Coral declined to comment.