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All Ahead For Rank Group Acquisition of Gala

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 :

William Hill Chairman Not Stepping Down - There are no plans for Gareth to step down. He is leading the CEO search process, which is well advanced, and is working with Philip Bowcock to deliver the key priorities for the business.

Canadian Lottery Looking at Online Gambling - The reaction of other provinces is not known, but the Newfoundland and Labrador government was apparently less than enthusiastic about the prospect, which it did not regard as a priority.

Red Riding Hood Online Slot Launched - The game, which has already attracted much preview interest, is part of the developers Fairytale Legends series, which the company plans to expand with further titles in 2017.

Super Heroes Slot Launches - When the feature is triggered, two of the heroes appear on each side of the screen to boost winnings. During free spins, heroes are triggered on every spin, with their super powers growing stronger each time.

SIS Stream To Deliver racing games to online customers - Online and retail betting industry provider SIS has signed a multi-year deal that harnesses the power of its SIS Stream product to deliver 49s-branded racing games to online customers.

Playngo in Deal With Betclic Everest Group - Swedish online gambling games developer Play’n GO has signed an agreement with the Betclic Everest Group that will see its full suite of games rolled out across the French group’s online casino brands.

2016 Italian Poker Tour main event in Malta - After besting a field of 775, many of them respected aces, Austrian poker pro Ismael Bojang claimed the main prize of Euro 101,940 over the weekend in the eighth edition of the Euro 1,100 buy-in Italian Poker Tour main event in Malta.

Betradar in Deal with OPAP - Sports betting data and analytics provider Betradar has inked a live betting supply deal with the major Greek licensed retail and online gambling operator OPAP.

2016 888poker Make It Big Tournament - A relatively unknown Hong Kong poker player, Ka Him Li (21), claimed victory after a two-way chop in the main event at the inaugural 888poker “Make It Big” live poker festival at the Aspers Casino in London over the weekend, earning the top prize of GBP 45,300.

Lightning Box Games in deal with WIlliam Hill - Sydney-based slot design specialist Lightning Box Games has signed an agreement to supply its content to William Hill’s licensed betting offices in the UK.

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