London – Big news has hit the casino industry as the UK based gaming company, i.e. (RNK.LN) Rank Group PLC has decided to purchase Gala Casinos from Gala Coral Group for a value of GBP 205. The deal comprises of UK’s 23 casinos and three non-operating licenses.
The chairman and Chief Executive Ian Burke stated that the deal would be finalized in the third quarter of the current year. He added that the decision to take over the Gala Casinos would prove much beneficial for them in terms of revenue earnings and improvement in all respects. It would be a boost for the entire casino industry too, said the CEO of Rank. The deal would be funded through the bank facilities to the tune of GBP 175 million, he added.
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