Rank Group plans new loans for purchase of Gala Coral casinos

By Sara Rosenberg

New York, March 6 - Rank Group plc plans on getting new bank loans and using existing credit facilities to fund the acquisition of 19 casinos from Gala Coral Group Ltd. for £179 million, according to a news release.

Closing is expected in the second quarter, subject to, among other things, Rank having in place third-party financing and Gala Coral being in receipt of certain lender consents.

Rank is an England-based gaming entertainment company.

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