The gaming group Rank, which owns the Mecca Bingo brand, has pledged £50 million to build 10 new casinos.

There are currently 35 casinos within the Grovesnor Casino chain and 103 bingo clubs. The company wants to build 5 more casinos in central and northern over the next two years at a cost of £23 million. An additional 5 casinos would be built at a later date a spokesman said.

The chief executive of the gaming group, Ian Burke, said that the company would be bidding for a new casino in Newham – the first under the Government’s 2005 plans for eight large and eight small new casinos.

Mr Burke, also suggested that the proposed regulations for new casinos should be extended to the existing ones. The Victoria casino owned by Rank on Edgware Road is restricted to 20 gaming machines whereas under the new legislation the site would be allowed 150 machines.

Rank has also adopted a successful new strategy in its bingo clubs to target younger players with a "noisier area" and a new menu. Taking account of its envious online position and highly attractive promotions the company is certainly at the forefront in gaming.