Agreement to acquire Gala Casinos for £179 million ... - Rank Group

News ReleaseRank will finance the Amended Acquisition along with its related costs and expenseswith new bank facilities to be agreed together with its existing bank facilities.Commenting on the transaction, Ian Burke, chairman and chief executive of Rank said:“This acquisition enables us to capitalise on our proven record of operationalexcellence in the British casino sector and is expected to be earnings enhancing inthe first full year of ownership. By rolling out the „G Casino‟ format into the Galaestate and expanding the Grosvenor Casino brand into 11 new cities, we willaccelerate the growing awareness of the brand and support the development of amulti-channel gaming business.”Enquiries:RankIan Burke – chairman and chief executive officerClive Jennings – group finance directorSarah Powell – investor relationsEvercore PartnersEdward BanksPeel Hunt (corporate broker to Rank)Dan WebsterMedia Enquiries:FTI Consulting (PR adviser to Rank)UK: Edward BridgesTel: +44 1628 504 303Tel: +44 20 7653 6000Tel: +44 20 7418 8869Tel: +44 20 7269 7147Evercore Partners, the marketing name for Evercore Partners International LLP,which is regulated in the United Kingdom by the Financial Services Authority, isacting exclusively for Rank and no one else in connection with the AmendedAcquisition, and will not be responsible to anyone other than Rank for providing theprotections afforded to its clients or for providing advice in relation to the AmendedAcquisition or any other matters referred to in this announcement.Certain statements in this announcement are forward-looking statements. By theirnature, forward-looking statements involve a number of risks, uncertainties orassumptions that could cause actual results or events to differ materially from thoseexpressed or implied by the forward-looking statements. These risks, uncertaintiesor assumptions could adversely affect the outcome and financial effects of the plansand events described herein. Forward-looking statements contained in thisannouncement regarding past trends or activities should not be taken as arepresentation that such trends or activities will continue in the future. You shouldnot place undue reliance on forward-looking statements, which speak only as of thedate of this announcement. Except as required by law, Rank is under no obligationto update or keep current the forward-looking statements contained in thisannouncement or to correct any inaccuracies which may become apparent in suchforward-looking statements.Statesman House, Stafferton Way, Maidenhead, Berkshire SL6 1AY T: 01628 504000 F: 01628 504369