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Share Price: 73.40
Bid: 73.00
Ask: 75.20
Change: 1.00 (1.38%)
Spread: 2.20 (3.014%)
Open: 73.00
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Low: 73.00
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IN BRIEF: Rank Group to receive GBP83 million from refund of UK VAT

Mon, 22nd Nov 2021 09:31

Rank Group PLC - Maidenhead, Berkshire-based operator of Grosvenor Casinos and Mecca bingo halls - Reaches agreement with UK tax collector HMRC over the amount of its VAT refund. Back in August, HMRC decided against appealing a tribunal ruling on a refund that Rank had claimed for VAT paid on slot machine income between 2006 and 2013. On Monday, Rank says it has agreed with HMRC on a GBP77.5 million refund, to be received "shortly". Rank previously had estimated the refund at GBP80 million; however, it also will receive GBP5.5 million in interest on the claim. Both amounts are subject to 19% corporation tax in the UK. Rank will use the cash to strengthen its balance sheet, it says, and to invest in its restructuring programme.

Current stock price: 154.20 pence, up 2.1% on Monday

Year-to-date change: up 11%

By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
11 Aug 2016 06:18

William Hill sees nothing in 888-Rank approach to merit talks

LONDON, Aug 11 (Reuters) - British bookmaker William Hill said it remained firmly opposed to engaging with 888 Holdings and Rank Group after the two companies set out more details of their unsolicited 3.16 billion pound ($4.11 billion) approach. "The Board of William Hill continues to beli

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10 Aug 2016 20:55

Rank and 888 continue to pursue triple-merger despite William Hill snub

(ShareCast News) - Rank Group and 888 Holdings set out their case late on Wednesday for their joint merger proposal for William Hill, even though the bookmaker had the previous day dismissed the offer as too low and ill-conceived. Acknowledging William Hill's rejection of a proposal valuing the book

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10 Aug 2016 17:28

UPDATE 1-Rank Group, 888 push for William Hill board talks as detail bid

(Adds details, shares) By Pranav Kiran Aug 10 (Reuters) - Casino and bingo hall operator Rank Group Plc and online gambling company 888 Holdings Plc called on Wednesday for talks with the board of William Hill Plc after their proposed joint bid was rejected by the British bookmaker.

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10 Aug 2016 16:05

888 And Rank Group Say Merger With William Hill Would Be "Compelling"

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10 Aug 2016 15:53

Rank Group, 888 would welcome talks with William Hill board

Aug 10 (Reuters) - Casino and bingo hall operator Rank Group Plc and online gambling company 888 Holdings Plc said they would welcome an opportunity to talk with the board of William Hill Plc over their goal of a merger, after their joint takeover offer was rejected. William Hill on Tuesda

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9 Aug 2016 18:40

William Hill snubs take-over approach from 888 and Rank Group

(ShareCast News) - William Hill dashed hopes of a three-way tie-up with rivals 888 Holdings and The Rank Group, saying the proposed premium was too low and the risks for its own shareholders surrounding the suggested financial stucture for the transaction too high. The takeover offer valued William

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9 Aug 2016 17:34

UPDATE 3-British bookie William Hill spurns $4.1 bln Rank-888 bid

* Bookmaker rejects 364 pence-a-share-approach * Says 16 pct premium undervalues group * Shares were higher than bid level in March * William Hill closes up 0.49 pct, 888 and Rank down (Adds closing share prices, details on Betfair) By Paul Sandle and Rahul B Aug 9

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9 Aug 2016 14:59

TOP NEWS: William Hill Rejects Takeover Offer From 888 And Rank Group

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9 Aug 2016 11:38

Rank and 888 make £3.6bn offer for William Hill, report says

(ShareCast News) - William Hill shares spiked on Tuesday after reports emerged that Rank Group and 888 Holdings had made a formal £3.6bn takeover offer for the stumbling bookmaker. Casino group Rank and online gaming specialist 888 were reported to have come up with a slightly higher bid than previo

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5 Aug 2016 10:22

UPDATE 1-Online problems depress profit for bid target William Hill

* First-half operating profit falls 16 pct * Poor online performance blamed * Says still waiting to hear details of 888-Rank approach (Adds CEO comments, shares) By Paul Sandle LONDON, Aug 5 (Reuters) - William Hill, the British bookmaker that last month sacked its chief

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26 Jul 2016 14:46

Tuesday newspaper share tips: William Hill, Ryanair

(ShareCast News) - In-the-spotlight merger interest in high-street bookie William Hill from gambling-sector players 888 and Rank Group looks like little more than an opportunistic flutter, writes Financial Times' Lex column. Just a year ago, William Hill rolled the dice for casino-operator 888, but

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26 Jul 2016 06:49

UPDATE 1-Ladbrokes, Coral must sell stores to get merger cleared - UK regulator

(Adds detail, background) LONDON, July 25 (Reuters) - Bookmakers Ladbrokes and Gala Coral must sell around 350 to 400 shops in order to obtain clearance for their proposed merger, Britain's competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said that a

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26 Jul 2016 06:17

Ladbrokes/Coral must sell stores to get merger clearance - UK competition regulator

LONDON, July 25 (Reuters) - Bookmakers Ladbrokes and Gala Coral must sell around 350 to 400 shops in order to obtain clearance for their proposed merger, Britain's competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said that a tie-up between Britain's second

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25 Jul 2016 15:55

LONDON MARKET CLOSE: FTSE 100 Drops As William Hill Supports FTSE 250

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25 Jul 2016 10:21

TOP NEWS SUMMARY: Rank Group And 888 Propose Tie-Up With William Hill

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