Rank Group has completed the sale of the assets of its Blue Square Bet business to Betfair for £5m. Rank intends to focus its resources on further developing the Grosvenor Casinos and Mecca brands in venues and via digital channels.
7 Mar '13
Take over agreed
176 million agreed.... Take control within 6 weeks... Come on SP show you care.
19 Feb '13
Upon completion of its review, Rank said the Commission had given it the green light to buy 19 of the 23 casinos it originally planned to buy subject to a few conditions. Rank and Gala Coral are now continuing their discussions in relation to setting up a revised proposed acquisition agreement.
19 Feb '13
FTSE 250-listed European gaming business Rank Group has received the green light from the Competition Commission to acquire a raft of casinos from Gala Coral Group. In May 2012, Rank announced that it had conditionally agreed to acquire Gala Casinos from Gala Coral with 23 casinos earmarked for purchase and three non-operating casino licences. At that point, the company stated that it anticipated the possibility of the Office of Fair Trading requiring a limited number of casinos to be excluded from the proposed acquisition. However, the Office of Fair Trading instead referred the whole proposed acquisition to the Competition Commission which ordered an in-depth merger review lasting seven months.
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