Rank Back in Talks with Gala Coral £200m Casino Deal

Rank Back in Talks with Gala Coral £200m Casino Deal

Written by: ava carson on 12/05/2012 08:45
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The door to negotiations has opened back up after Rank and the Coral Group hit a road block back in March. The proposed terms were not in agreement with the two groups and talks were halted until now.

Ian Burke, chairman of the bingo and casino group has a special interest in buying Gala Casinos. If an agreement is reached Rank would be the leading casino operator in Britain with 35 Grosvenor Casinos and Gala Clubs.

Gala Coral has had financial restructuring and was taken back the first time when the deal fell through. Carl Leaver, the Gala Coral chief executive, is understood to believe that the casinos, bingo clubs and bookmaking will inevitably be broken up.

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