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All Ahead For Rank Group Acquisition of Gala

Tuesday February 19,2013 : COMPETITION BOARD GIVES RANK QUALIFIED GO-AHEAD ON GALA CASINO ACQUISITION
 
Parties are continuing discussions on appropriate amendments to the terms of acquisition deal
 
The Rank Group plc is pushing ahead with its acquisition negotiations with Gala Casinos Limited after receiving the all-clear from the UK Competitions Board this week.
 
On 12 May 2012 Rank announced that it had conditionally agreed to acquire Gala Casinos Limited from Gala Coral Group Limited, acquiring 23 casinos and three non-operating casino licences.
 
The agreement anticipated the possibility of the Office of Fair Trading requiring a limited number of casinos to be excluded from the deal.  Rank shareholder approval for the acquisition was obtained at a general meeting of Rank held on 26 July 2012.
 
On 20 August last year the OFT referred the deal to the Competition Commission for an in-depth merger review, and as a result the original acquisition agreement lapsed the following month.
 
Back to the present; on Tuesday the Competition Commission published its final report following the completion of its review of the deal, approving the acquisition in respect of the purchase of 19 of the 23 casinos originally planned in the agreement, along with the three non-operating licences (subject to agreeing in the next few weeks appropriate remedy undertakings with the Competition Commission in regard to Rank's non-operating licence in Edinburgh and the four casinos to be retained by Gala Coral).
 
A Rank spokesman said Tuesday that the company and Gala Coral are continuing discussions toward appropriate amendments to the terms of the acquisition deal in light of the Competition Commission's report.

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Gambling News :

Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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