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Back in May , PokerNews informed you that Gala Coral Group had agreed to sell its casinos to Rank Group Plc for £ million. The sale.


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The Rank Group Plc Completion of Gala Casinos acquisition | Casino Life Magazine
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Back in May , PokerNews informed you that Gala Coral Group had agreed to sell its casinos to Rank Group Plc for £ million. The sale.


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casino estate of rival Gala Coral Group Limited, British gambling giant Rank Group has announced that the acquisition has been completed.


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chairman and chief executive of The Rank Group Plc, commented:“I am delighted that we have completed the acquisition of Gala Casinos.


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Agreement to acquire Gala Casinos for £ million. On The Rank Group Plc ("Rank") announced that it had conditionally agreed.


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Image caption Rank will become the UK's biggest casino operator. Rank Group, the owner of Mecca Bingo, has bought 23 casinos from Gala.


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casino estate of rival Gala Coral Group Limited, British gambling giant Rank Group has announced that the acquisition has been completed.


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The Rank Group Plc. Completion of Gala Casinos acquisition and. Interim Management Statement for the 18 and 44 weeks to 5 May


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Back in May , PokerNews informed you that Gala Coral Group had agreed to sell its casinos to Rank Group Plc for £ million. The sale.


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Image caption Rank will become the UK's biggest casino operator. Rank Group, the owner of Mecca Bingo, has bought 23 casinos from Gala.


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Any statement to the effect that the Amended Acquisition is expected to be earnings enhancing for Rank should not be interpreted to mean that earnings per Rank ordinary share in the first full financial year following the Amended Acquisition, nor in any subsequent period, will necessarily match or be greater than those for a preceding financial year. Sector news. Top News. Top Movers. Sign up. Evercore Partners, the marketing name for Evercore Partners International LLP, which is regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Rank and no one else in connection with the Amended Acquisition, and will not be responsible to anyone other than Rank for providing the protections afforded to its clients or for providing advice in relation to the Amended Acquisition or any other matters referred to in this announcement. Commenting on the transaction, Ian Burke, chairman and chief executive of Rank said: "This acquisition enables us to capitalise on our proven record of operational excellence in the British casino sector and is expected to be earnings enhancing in the first full year of ownership. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. All rights reserved. More news. You can enter multiple email addresses separated by commas. William James Spencer Floydd. Rank and Gala Coral will enter into transitional services arrangements pursuant to which Gala Coral will provide certain services for a limited time period following completion to facilitate a smooth transfer of the business. Certain statements in this announcement are forward-looking statements. Technical Rankings. Reynolds shares brave market jitters to pop on Nasdaq debut. These risks, uncertainties or assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Fundamental Rankings. Sector and Competitors. All news. Latest News. No statement in this announcement is intended to be a profit forecast and no statement in this announcement should be interpreted to mean that earnings per Rank ordinary share for the current or future financial years would necessarily match or exceed the historical published earnings per Rank ordinary share. Commenting on the transaction, Ian Burke, chairman and chief executive of Rank said:. Investment themes. Evercore Partners Edward Banks. My Portfolio. New member. Listed company. Persons needing advice should consult an independent financial adviser. The sale and purchase agreement entered into for the purpose of the Amended Acquisition the " Acquisition Agreement " contemplates the transfer of approximately 2, Gala Casinos' employees to the Rank Group. Alexander Vincent Thursby. Our Services. Sell Buy. Add to my list.

That conditional agreement the " Original Agreement " envisaged Rank purchasing 23 casinos and three non-operating casino licences the " Proposed Acquisition ". The previous strategy for the rank group gala casinos of Gala Casinos remains the driver for the Amended Acquisition.

By their nature, forward-looking statements involve a number of risks, uncertainties or rank group gala casinos that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. The Acquisition Agreement contains representations and warranties given to Rank by Gala Coral which are customary for a transaction of this nature.

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Rank is pleased to announce that it has now agreed terms with Gala Coral for the purchase of 19 of the 23 casinos originally comprised within the Original Agreement, as well as the three non-operating licences also comprised within the Original Agreement subject to agreeing in the next few weeks appropriate remedy undertakings with the Competition Commission in relation to the four casinos to be retained by Gala Coral and Rank's non-operating licence in Edinburgh, and the disposal of that non-operating licence to a purchaser approved by the Competition Commission. All stock picks. Press Releases. Period : Day Week. Cinemas, theatres and concert halls fall silent in Britain. Please enable JavaScript in your browser's settings to use dynamic charts. Rank shareholder approval for the Proposed Acquisition was obtained at a general meeting of Rank held on 26 July On 19 February , the Competition Commission published its final report following its review of the Proposed Acquisition. Acquiring the Gala Casinos business presents a significant opportunity for Rank to continue to deliver sustainable value to its shareholders through the development of its successful casino portfolio:. Suisse FR. Prices and values of, and income from, shares may go down as well as up and an investor may not get back the amount invested. Investment selections. This would be in addition to Rank's existing investment plan. MarketScreener tools. By rolling out the 'G Casino' format into the Gala estate and expanding the Grosvenor Casino brand into 11 new cities, we will accelerate the growing awareness of the brand and support the development of a multi-channel gaming business. More Financials. Gala Coral's casinos in Aberdeen, Bristol, Cardiff, Stockton-on-Tees and Gibraltar, its non-operating licences for the City of Westminster London and Dundee, its branded online casino activities and all of the central management functions previously associated with Gala Coral's casino business are not included in the scope of the Amended Acquisition. More Estimates Revisions. News Summary. The Amended Acquisition, which is expected to be completed in the second quarter of the calendar year, is conditional, amongst other things, upon the Competition Commission having formally accepted undertakings from Rank and Gala Coral, Rank disposing of its non-operational licence in Edinburgh to a purchaser approved by the Competition Commission , Rank having in place third party financing and Gala Coral being in receipt of certain lender consents. Top Technicals. E-mail Password Remember Forgot password? Income Statement Evolution. Sector News. My Watchlists. All Analysis. The consideration will be subject to customary adjustments for, among other things, the amount of cash, debt and working capital in Gala Casinos at completion of the Amended Acquisition. Log in E-mail. Log in. Jonathan Greensted. EPS Revisions. Rank Ian Burke - chairman and chief executive officer Clive Jennings - group finance director Sarah Powell - investor relations. United Kingdom. Except as required by law, Rank is under no obligation to update or keep current the forward-looking statements contained in this announcement or to correct any inaccuracies which may become apparent in such forward-looking statements. More about the company. Top Fundamentals. Peel Hunt corporate broker to Rank Dan Webster. United States. Reynolds shakes off market jitters with year's first big IPO. John Patrick O'Reilly. MarketScreener Portfolios. Full-screen chart. Schweiz DE. It should be noted that past performance is no guide to future performance. More Results. Rank will finance the Amended Acquisition along with its related costs and expenses with new bank facilities to be agreed together with its existing bank facilities. Dynamic chart. Rank Ian Burke - chairman and chief executive officer. Duration : Auto. Stock Screener Home. Most relevant. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement. Technical analysis.