Rank, a subsidiary of 0053.HK, which owns 74.5% of its shares, bought Gala Casino, the third largest casino in the UK, for £205 million. Citigroup believes that Rank, with £24.9 million in cash on hand by the end of last year, plus a new £175 million in three-year bank credit, should be able to cope with the acquisition, even if it invests another £30 million to upgrade its Gala Casino business without financial assistance from Guohao. Rank, which will become the largest casino operator in the UK, can still buy Guohao, with a slightly lower target price of HK $82.
花旗：仍可买入国浩(0053.HK)；目标价82港元
Citigroup: you can still buy 0053.HK; target price is HK $82
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