25th Aug 2006 07:01
Rank Group PLC25 August 2006 Joint Release On Clermont Club Rank sells historic casino to BIL International 25 August 2006 Grosvenor Casinos Limited, a subsidiary of The Rank Group Plc ("Rank") hasagreed to sell the Clermont Club, its high-end London casino, to BIL GamingOperations UK Ltd, a wholly owned subsidiary of BIL International Ltd for an allcash consideration of £31.0 million under an agreement signed between them on 24August 2006. The Clermont Club, one of London's best-known casinos is situated at 44 BerkeleySquare in the capital's West End. Rank acquired the Clermont Club in 1990 aspart of the purchase of Mecca Leisure Limited. Ian Burke, chief executive of Rank, said: "The sale of the Clermont Club is inline with our strategy of focusing on the mainstream gaming market, where webelieve there is most to gain from changes to UK gambling regulations." Arun Amarsi, chief executive of BIL International Ltd, said: "We are pleased toacquire the famous Clermont Club. Our subsidiary, BIL Gaming Operations UK Ltd,has made a number of casino applications in London and other UK cities. Alongwith Clermont, we intend to progressively expand our casino operations in UnitedKingdom." - ends - City/Press Enquiries The Rank Group Plc +44 20 7535 8031 Dan WaughDirector of Investor Relations M: Communications +44 20 7153 1540Nick Fox/Lisa Gordon BIL International Ltd +65 6438 0002SingaporeArun Amarsi Email: [email protected] Executive Officer Linda Hoon Email: [email protected] General Counsel/Group Company Secretary This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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