Rank, a bingo and casino operator settled over the weekend with Gala Coral casino business for £205m. When deal finalizes in September, Rank will become the UK’s leading casino operator.
The deal includes the purchase of 23 UK based casinos, pending the approval by Rank’s shareholders and receipt of UK merger control clearance.
Gala Coral has undergone financial restructuring and has not made a final decision on what they will do with the cash generated from the sale, but expects to “reduce the group’s leverage”.
"This transaction will crystallise significant value for our shareholders and debt investors," said Carl Leaver, chief executive of Gala Coral.
Casinos in Dundee and Gibraltar are excluded from the deal as well as the casino freehold properties and will remain the tenants under Rank’s ownership.
We are always on the look out for new bingo sites and this month is no different. Check out our new online bingo page and take advantage of the great service and sign up bonuses they have to offer.
Take A Look
This month we have a host of great bingo competitions. Enter to win a 16GB iPad 2 as well as other cool prizes. Don't forget to take a look at our no deposit bingo offers too, simply click the offers tab.
Take A Look
We have the most extensive bingo review directory available for your use. Our bingo reviews are arranged in alphabetical order in review directories for UK bingo reviews and worldwide bingo sites so every one of our members can enjoy playing bingo.
Take A Look
Internet Bingo is one of the UK's favourite online games with more and more people signing up to sites each week. We help gamers find the best internet bingo sites around and are the premier resource for internet bingo reviews, previews and news. We essentially find internet bingo games to suit your needs and budgets.
Take A Look
English
Spanish
-Prize-Draws-Include-£1K-in-Cash,-£3K-in-Tech-&-More.jpg)
