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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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International Table Tennis Federation in deal with Sportradar. -
The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.
NBA odds on Thunder vs. Pacers Game? -
This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.
2 New Christmas Slots For Microgaming -
Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.
SportsBetting Supreme Court Showdown -
Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)
NBA Odds: Heat Can Burn Cavaliers in Cleveland -
The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.
Games Concept Day in Malta -
The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
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