Grosvenor Completes Acquisition Of Gala Casinos

Rank plc-owned Grosvenor Casinos has completed the acquisition of 19 Gala Casinos in the UK.

The cost of the deal was €179 million.

The company said in a statement today, “On 6 March 2013 The Rank Group Plc („Rank‟ or the „Group‟) announced that it had entered into a revised conditional agreement for the acquisition of Gala Casino 1 Limited (“Gala Casinos”) from Gala Coral Group Limited.

“Rank is pleased to announce that all the conditions in the revised acquisition agreement have been fulfilled and yesterday it completed the acquisition of Gala Casinos.

Ian Burke, chairman and CEO of the group said, “I am delighted that we have completed the acquisition of Gala Casinos. The addition of 19 casinos creates a market leading position for our Grosvenor Casinos brand, taking us into 11 new markets in the UK.

“Unsurprisingly, our venues were affected by the persistent freezing weather conditions during the third quarter. Against that backdrop, we feel our businesses have performed reasonably well.

“We remain confident in the Group‟s long-term growth strategy and its increasing focus on the growth areas of digital and casino venues.”

Grosvenor Casinos hosts the Grosvenor UK Poker Tour.

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