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Global Leisure Partners LLP
17/18 Old Bond Street, London W1S 4PT, United Kingdom
Tel: +44 (0) 20 7016 8050, Fax: +44 (0) 20 7016 8060
Web: www.globalleisurepartners.com |
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August 25th, 2006
Rank sells historic casino to BIL International
Grosvenor Casinos Limited, a subsidiary of The Rank Group Plc ("Rank")
has agreed to sell the Clermont Club, its high-end London casino, to BIL Gaming
Operations UK Ltd, a wholly owned subsidiary of BIL International Ltd for an all
cash consideration of ?31.0 million under an agreement signed between them on
24 August 2006.
The Clermont Club, one of London's best-known casinos is situated at 44 Berkeley
Square in the capital's West End. Rank acquired the Clermont Club in 1990 as part
of the purchase of Mecca Leisure Limited.
Ian Burke, chief executive of Rank, said: "The sale of the Clermont Club
is in line with our strategy of focusing on the mainstream gaming market, where
we believe there is most to gain from changes to UK gambling regulations."
Arun Amarsi, chief executive of BIL International Ltd, said: "We are pleased
to acquire the famous Clermont Club. Our subsidiary, BIL Gaming Operations UK
Ltd, has made a number of casino applications in London and other UK cities. Along
with Clermont, we intend to progressively expand our casino operations in United
Kingdom."
Rank was advised on the sale by by Global Leisure Partners LLP.
Contact:
Tina Palastanga
Principal
Tel: +44 (0) 20 7016 8050
tinapalastanga@glp.uk.com |
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