Acquisition
25 Agosto 2006 - 4:00AM
UK Regulatory
RNS Number:1069I
BIL International Limited
25 August 2006
Joint Release On
Clermont Club
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."
- ends -
City/Press Enquiries
The Rank Group Plc +44 20 7535 8031
Dan Waugh
M: Communications +44 20 7153 1540
Nick Fox/Lisa Gordon
BIL International Ltd +65 6438 0002
Singapore
Arun Amarsi Email: arun.amarsi@bil.com.sg
Chief Executive Officer
Linda Hoon Email: linda.hoon@bil.com.sg
Group General Counsel/Group Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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