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BETWEEN A ROCK AND A HARD PLACE

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16 March 2007

Exchange rate costly for Seminoles in Hard Rock purchase

Currency exchange rates have added a whopping GBP 12 million to the selling price of Rank group's Hard Rock division (see previous InfoPowa report) to the Seminole tribe in Florida.

The initial agreement of around GBP 490 million has risen to GBP500 million (circa $965 million) in the timespan between the agreement and the final approval of the deal by Rank shareholders.

Online Casino News courtesy of InfoPowa

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