Rank agreement to buy Gala expires at midnight
Rank Group said its current deal to buy Gala Casinos would expire at midnight after delays caused by a competition investigation.
Rank Group said its current deal to buy Gala Casinos would expire at midnight after delays caused by a competition investigation.
The £205m acquisition from Gala Coral Group, which includes 23 casinos in the UK, was dependent on the firms getting clearance from competition authorities by September 19.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Accordingly, the acquisition will not become unconditional by September 19...and therefore the agreement relating to the Acquisition will cease to be formally binding on the parties at midnight," Rank said.
"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," it added.
A further announcement will be made in due course.
-
HMRC stamp duty crackdown sees probes of property deals jump 88% – what to watch out forFrom bogus stamp duty refund claims to misleading the taxman about who owns a property, HMRC is increasing its scrutiny of stamp duty land tax reporting. Here’s how.
-
The UK areas which saw biggest jump in asking prices in 2025 – is yours on the list?We look at the UK areas where asking prices rose the most last year.
