Rank and Coral Casino Deal Gets OKUK’s Competition Commission Says Rank Can Buy 19 Of The 23 Gala Coral Casinos It Wants |
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Rank plc got the go ahead today from the UK’s Competition Commission to purchase 19 Gala Coral casinos and three non-operating licenses.
Rank, which owns Grosvenor Casinos and the Grosvenor UK Poker Tour, originally wanted to buy all 23 Gala Coral UK casinos but four must be retained, for now at least, by Gala Coral.
In a statement today Rank said, “The Competition Commission has today published its final report following completion of its review of the Proposed Acquisition.
“Rank is pleased that it will be able to proceed with the purchase of 19 of the 23 casinos originally comprised within the Proposed Acquisition, as well as three non-operating licences (subject to agreeing in the next few weeks appropriate remedy undertakings with the Competition Commission in relation to Rank’s non-operating licence in Edinburgh and the four casinos to be retained by Gala Coral).
“Rank and Gala Coral are continuing their discussions in relation to appropriate amendments to the terms of the Proposed Acquisition in light of today’s Competition Commission report. Rank expects to make a further announcement shortly.”
Gala Coral said it would keep casinos in Aberdeen, Bristol, Cardiff and Teeside as well as its Gibraltar casino, its cold licences in Dundee and the City of Westminster (London) and its branded online casino activities.
Gala Coral ran the Great British Poker Tour in 2007 and 2008 before exiting the live poker tour market in the UK.
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