TIDMRNK
RNS Number : 0406R
Rank Group PLC
23 April 2009
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23 April 2009
Rank acquires Coventry casino from Isle of Capri
The Rank Group Plc ("Rank" or the "Group") announces that its Grosvenor Casinos
business has completed the acquisition of the casino at the Ricoh Arena in
Coventry from Isle of Capri for a cash consideration of GBP650,000.
The casino will be re-launched under Rank's G Casino brand after an investment
of GBP1 million to reconfigure the site. It will become the Group's eighth G
Casino within a portfolio of 33 UK clubs.
The announcement comes as Rank revealed a 3% rise in revenue at Grosvenor
Casinos for the first 16 weeks of the financial year.
Phil Urban, managing director of Grosvenor Casinos said: "In recent years we
have successfully broadened the appeal of our business through the development
of the G Casino brand, offering customers a grown-up leisure experience based on
entertainment, gaming, fun and hospitality. I am excited at the prospect of
bringing G Casino to Coventry as part of the superb Ricoh Arena."
Grosvenor Casinos will take over management of the casino with immediate effect.
The Isle of Capri casino was opened in 2007 as part of the GBP113 million Ricoh
Arena.
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The Rank Group Plc
Dan Waugh, director of investor relations01628 504053
Financial Dynamics
Ben Foster/Marc Cohen 020 7831
3113
About The Rank Group Plc
The Rank Group Plc ('Rank') is a leading European
gaming and betting business, based in the UK and listed on the London Stock
Exchange (RNK.L). Its principal activities are the operation of bingo clubs and
casinos with complementary interactive gaming and bookmaking services.
For more information about The Rank Group, visit www.rank.com
About the Ricoh Arena
The Ricoh Arena is a multi-purpose award-winning development which opened in
2005. It features state-of-the-art conference, exhibition and banqueting
facilities, a boutique hotel, a health and fitness club, a bar and bistro and
2,000 on-site parking spaces. It is the home of Coventry City FC and this summer
Take That and Oasis will be performing their only Midlands concerts in the
stadium bowl.
For more information about the Ricoh Arena contact Adam Dent on 02476 633636.
This information is provided by RNS
The company news service from the London Stock Exchange
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