Gambling Company to Buy Gala Coral Group

Contrary to public belief, it seems that Rank Group the gambling company still aims to purchase Gala Coral group. This public belief was a result of Rank Group leaving the conversation tables with Gala Coral in the last days of March of 2012. According to reports, the gambling operators have once again sat on the same table to negotiate the terms of the purchase and the acquisition. Reports also state that Rank Group has offered once again to pay 200 million GBP to close the deal to add the Gala Coral to its company. The same reports included the reason behind the stumbling of the negotiations between the 2 companies in the first time. It was the term that was stated by Rank Group regarding the acquisition of property that no longer belonged to the assets of Gala Coral.

If such deal goes through, it would mean a lot for Rank Group, as this acquisition would make Rank Group one of the leading if not the top leading internet gambling operator in the online gambling market of the United Kingdom. None of the two companies, Gala Coral and Rank Group have published any official statements regarding the continuation of the negotiation or regarding to the deal.

On a side note, Rank Group is controlled by the Malaysian based company, Guoco Group. This came as a result of the acquisition that occurred in 2011 where Guoco Group took over 74.5 % of the company.