Gala Coral is about to hit its first roadblock. Fêted as the UK's biggest private company, with an enterprise value in excess of £4bn, the bookmaker and bingo and casino operator is preparing for a bumpy ride when the smoking ban hits its bingo revenues from this summer.

"Bingo faces a crucial six months," admits Neil Goulden, chief executive of the group, which has 11.5 per cent of the UK gaming market excluding the National Lottery and is owned by three private equity groups, Candover, Cinven and Permira.