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NEWS 29 March 2012

No Gala Coral deal for Rank Group

The Rank Group have announced that discussions with Gala Coral regarding the potential acquisition of Gala’s casino business have been terminated.

Rank say the talks, which were first confirmed on 30 January 2012, ended because it became clear that the terms of the deal would “not serve the best interests” of their shareholders.

Rank Group chairman and chief executive officer Ian Burke said: ‘'Rank remains committed to delivering sustainable growth in shareholder value; the proposed terms of the potential acquisition did not achieve this objective. We will now concentrate on delivering our organic growth plans, including the delivery of 12 more G Casinos by 2015.”
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