No big deal between Gala and Rank!
First published by Melissa Dawn and last updated
We were about to see a mega deal go down between the owner of Mecca bingo and the gambling company Gala Coral- but it is not to be. The Rank Group walked away from talks of the deal which had been ongoing since January. The deal was reportedly worth 250 million but the chief executive of the Rank Group, Ian Burke, said the deal would not have been prosperous for shareholders.
If the deal had have taken place then it would have seen Rank become the biggest gambling firm in the business- even overtaking giant Malaysian brand Genting. This would have been lucrative for Gala as it would be able to cope with its many debts. Gala Coral has been seen as a prime target for a break up as it had to go through debt restructuring in 2010. The casinos being bought by Rank would have meant that Gala would have been able to focus on the Gala Bingo and Coral bookmaking divisions of the company however a spokesperson conformed this was not going to happen. They insisted that: "Our casino business was not for sale when Rank made an unsolicited approach. Now that it is clear that a transaction on terms acceptable to our shareholders cannot be concluded, we are very happy to continue to drive growth from our casinos which are performing very strongly."
You may only know of Mecca Bingo as one of the big online bingo sites and land based bingo halls on the scene. This is because they do have really welcoming bingo bonuses, daily promotions as well as exciting seasonal promotions. There may have been questions raised over the prosperity of their casinos but the bingo playing you experience at their site is of the highest standard.