Rank Group's casino purchase shows strength of Ricoh Arena, claims company chairman.
Ricoh Arena boss David Allvey has expressed his satisfaction with Rank Group's acquisition of the casino in the Coventry City stadium.Rank recently bought the gambling venue from US firm Isle of Capri and has already pledged investment of £1.6 million as it rebrands the property as a G Casino.
Mr Allvey, who heads Arena Coventry Limited, said that Rank's involvement demonstrates that the £113 million sport and leisure complex is in a good position to withstand the recession, the Coventry Telegraph reports.
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"At a time when the economy is suffering, we are recording encouraging growth in all areas of operation," he told the newspaper.
"This deal with the Rank Group … really does underline the standing that the Ricoh Arena now has on a national and international stage."
The Ricoh Arena hosted its first football match in August 2005, when Coventry beat Queens Park Rangers 3-0 in a Championship fixture.
As well as the 32,000-seater stadium and the casino, the site contains an exhibition hall, conference centre, hotel and health club.
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