Rank resumes £250m Gala Coral talks
Rank Group has re-opened its proposed £250m casino deal with Gala Coral, less than two months after initial talks collapsed according to The Financial Times. The bingo and casino operator originally planned to add Gala's 25 casinos to its existing 36, but balked at the 'proposed terms', which included the obligation to take on property leases relating to casinos no longer owned by Gala.
If the deal were to be successful, Rank would become the UK's leading casino operator, overtaking the operation of Malaysia’s Genting. Neither gaming firms were available to comment on the proposed talks.