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RANK UPDATES ON GALA CASINOS ACQUISITION
Wednesday September 19,2012 : RANK UPDATES ON GALA CASINOS ACQUISITION (Update)
Competition Commission delay means agreement deadline will not be met
Rank Group plc has released an update on its bid to acquire Gala Casinos Limited, reporting that delays in achieving Competition Commission approval could impact the agreement.
On 12 May 2012 Rank announced that it had conditionally agreed to acquire Gala Casinos from Gala Coral Group Limited for a total cash consideration of GBP 205 million.
The acquisition was conditional upon the approval of Rank shareholders (which was obtained at a general meeting of Rank held on 26 July 2012) and upon receipt of UK merger control clearance by 19 September 2012.
On 20 August 2012 the Office of Fair Trading announced that it had referred the acquisition agreement to the UK Competition Commission, and that as a result the agreement will not become unconditional by the 19 September 2012 deadline.
The company now advises that due to these factors the agreement relating to the acquisition will cease to be formally binding on the parties at midnight on Wednesday 19 September 2012.
The update concludes: "Rank and Gala Coral Group are nevertheless continuing to assist the Competition Commission with its inquiry and are continuing their discussions in relation to appropriate amendments to the acquisition terms in the light of the reference to the Competition Commission. A further announcement will be made in due course."
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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