Gaming firm Rank Group has completed the £650,000 acquisition of the casino at Coventry’s Ricoh Arena.

The company plans to invest £1million in a refurbishment after reaching a deal with previous operator Isle of Capri.

It will re-brand the site as a G Casino – the eighth in its portfolio of 33 UK casinos.

The new G Casino will have traditional games, such as roulette and blackjack as well as a large poker room and masses of electronic games.

The refurbished casino will also have a bar, sports lounge and restaurant.

Phil Urban, managing director of Grosvenor Casinos, said: “I am excited at the prospect of bringing the G Casino to Coventry as part of the superb Ricoh Arena.

“My team is looking forward to working with Arena Coventry Limited, which operates the Ricoh Arena, to contribute to the success of one of the best multi-purpose leisure venues in the country.”

Daniel Gidney, chief executive of Arena Coventry Ltd, said: “This is very good news for the Ricoh Arena and for Coventry.

“Rank is a world renowned leisure and entertainment group with a proven record in the gaming sector and adds to the increasing number of alliances the Ricoh has with global names.”

Grosvenor Casinos will take over management of the casino with immediate effect.

The Isle of Capri casino opened in 2007 as part of the £113million Ricoh Arena.