Rank Group has entered into a revised conditional agreement to acquire 19 casinos and three non-operating licences from Gala Coral for a total cash consideration of £179m.

The agreement follows a final report published last month by the UK’s Competition Commission, which said that the proposed acquisition would have a negative impact on competition in five areas of the UK, but that it would allow the transaction to proceed on the basis that the casinos in these areas are not included in the sale.

Rank said that it has agreed terms with Gala Coral for the purchase of 19 of the 23 casinos originally comprised within the initial agreement last May, as well as three non-operating licences.

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