Rank in talks to buy Gala's casinos

Casinos group Rank has confirmed speculation that it is in talks with Gala Coral about the potential acquisition of Gala's casino business.

Gala Casinos is the third largest casinos business in the UK and has a market share of around 17%. Press reports estimate that the acquisition could be worth up to £250m.

Rank, which already owns the Mecca Bingo and Grosvenor Casinos in Great Britain - as well as other Bingo clubs in Spain - is expected to become the largest casinos operator in Britain if it pulls off the deal with Gala.

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"The terms of any such acquisition have not yet been finalised and there is no certainty that any transaction will occur," Rank said.

BC