Rank stake upped by Malaysian investor

June 16, 2008

UK online gaming giant and online bingo operator Rank plc has sold more of itself to the Malaysian Guoco group bringing the Asian company’s total holdings in Rank to 12.67%.

The move has upped speculation in London that a takeover bid by Guoco may be in the works. Another Malaysian investment group called Genting also currently owns an 11% stake in the British gaming company.

Rank operates the successful bingo brand Mecca Bingo which is a major force in the both the land-based and online bingo games sectors. Mecca Bingo, while currently undergoing strong challenges in the profitability of its land operations, runs its own online bingo hall which is a popular choice amongst those who play online bingo in the UK

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