Merrill Lynch has bagged the main role advising Gala Group, the private equity-backed UK bingo operator lined up for a £1.8bn (€2.6bn) flotation.

The US bank is sponsor and joint bookrunner with Deutsche Bank and UBS. The banks told the gaming company and its investors, Candover and Cinven, that the market was ripe for a float, but the owners had yet to make a decision.