Rank Group Completes Gala Coral Uk Casino Sale

RANK GROUP COMPLETES GALA CORAL UK CASINO SALE

14th May, 2013 at 07:13:50
Source: http://www.azonlinecasinos.com

Rank becomes Britain 's largest land gambling firm

Gala Coral has confirmed the completion of the sale of its UK Casinos to Rank Group PLC.

Net proceeds after costs were c. 175 million of which 135 million will be applied as a prepayment of the Term Loan B in accordance with the Group's Senior Facilities Agreement. The remaining net proceeds will be retained by the Group.

Commenting on the transaction, Carl Leaver, Group chief executive officer of Gala Coral said: "This transaction has crystallised significant value for Gala Coral's shareholders and debt investors. I would like to recognise the contribution and commitment of the Gala Casino team, and wish them every success under Rank's ownership."

Related News Tags: , ,



« News index »



UK COURT GREENLIGHTS BETSSON'S NETPLAY ACQUISITION (Update)

29th March, 2017 at 15:16:22
Deal expected to complete later this week.

SPORTECH FULL YEAR 2016 RESULTS

29th March, 2017 at 15:16:22
Results fail to impress but transformational period positions company for growth, Board believes.

NEW TELEVISION ADVERT FROM ONLINE CASINO

28th March, 2017 at 19:47:54
PlayOJO.com begins major marketing push in UK.

HABANERO HAILS STRONG START TO 2017

28th March, 2017 at 11:21:29
Future looks bright, developer says.

PARIPLAY LAUNCH BLOODSHOT (Update)

27th March, 2017 at 20:04:48
Based on iconic comic book series.