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UK Casino Deal Falls Through

Rank Calls Off Talks To Buy Gala Coral Casinos

by Brendan Murray  |  Published: Apr 01, 2012

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Rank Group plc, owner of Grosvenor Casinos and the Grosvenor UK Poker Tour, has ended talks with competitor Gala Coral Group about the possible takeover of Gala’s casino business in the UK.

In a short statement Rank said, “…discussions have ended after it became clear that the proposed terms of the acquisition would not serve the best interests of Rank’s shareholders.”

Ranks chief executive Ian Burke added, “Rank remains committed to delivering sustainable growth in shareholder value; the proposed terms of the potential acquisition did not achieve this objective. We will now concentrate on delivering our organic growth plans, including the delivery of 12 more G casinos by 2015.”

 
 
Tags: Rank,   Rank Group,   Gala Coral,   Gala Casinos,   GUKPT,   Grosvenor Casinos,   Ian Burke,   Poker Business,   Poker News,   UK Casinos
 
 
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