Rank Group, the UK-based operator of Mecca Bingo and Grosvenor Casinos, has revealed that it has held discussions over the potential acquisition of its rival, Gala Coral Group.

The Sunday Times has reported that any deal for the company, which operates Gala Casinos and Coral betting shops among others, could be worth in the area of £250m.

However, Rank has issued a statement to stress that it had not finalised any terms for a deal and added that there was "no certainty" that any such acquisition would be completed.

The announcement comes months after Rank itself was subject to a takeover offer from the Hong Kong-based Guoco Group, which was accepted by 74.5 per cent of investors.

Guoco became the majority owner of the business as a result of the deal, with Rank keeping its listing on the London Stock Exchange.