Industry speculation of Rank takeover

Media reports say UK gambling company Rank Group may be the subject of renewed takeover attempts with the news that Malaysian investment compnay Guoco Pty Ltd. has increased its stake from 13.09% to 14.15%.

The UK land and online bingo operator has often been subject to rumour of a possible takeover since announcing a profit warning last September. In a previous development, Genting Berhad, also of Malaysia had to deny speculation it was planning a $959 million bid for Rank.

The Rank Group has suffered a poor run of form recently in its land bingo operations due largely to the implementation of a nation-wide smoking ban. The company is best known in the free online bingo industry for it’s Mecca Bingo brand which operates a popular online bingo hall under the same name.

Related posts:

1. Guoco ups stake in Rank plc
2. Mecca Bingo land operations weigh down Rank revenues
3. Genting launches online gambling
4. Power 50 ranking show a fall for Rank and Gala
5. Rank may get tax windfall