Malaysian Group Increases Rank Stake
By Staff
Asia-based Guoco Group Ltd has increased its stake in British casino, bingo and online betting company Rank Group from 3.17 to 4.09 percent in a move likely to fuel speculation that it is planning an all-out bid.

Guoco is an investment and holdings management company run by Malaysian tycoon Quek Leng Chan, the world’s 382nd most wealthy person.

Rank, hit hard by a recent public smoking ban along with the loss of lucrative gaming machines under the Gaming Act of 2006, has been the subject of takeover rumours since a profit warning in the autumn led to a collapse in its share price.

Malaysia-based gaming group Genting has also built a ten percent stake in Rank with the Richardson property and haulage family also rumoured to have built up a nine percent holding.

 
 
 
 
 
Online Casino News.com provides online gamblers with information on online casino gambling, sports betting tips, wining casino tips, internet casino reviews, sports odds, matchups, results, editorial and much, much more… We also have an industry insider’s section including Internet gaming press releases, a calendar of events and gaming industry news.
Bluff Europe: Europe's leading Poker Magazine brings you the latest Poker News, Player Interviews and all the best Online Poker offers Poker in the Park: Europe's largest Poker Festival.