Guoco Group Increases Share In Rank Group

Written by: Nikola Zugic on 25/07/2008 02:00

The Guoco Group has further increased its holding in the ever popular and profitable Rank Group and they now hold more than 18% sparking yet more rumours that they intend to try and buy the company. However, they may face stiff competition from another group that currently holds around 16.9% in Rank Group. Things are certainly hotting up in the race to purchase.

Mecca Bingo is without doubt the most famous of Rank Group's holdings with a massive high street presence and an equally impressive online presence. While they have been suffering some troubles with offline bingo recently, like all high street bingo clubs they are facing the pinch following the smoking ban and double taxation on bingo, the Mecca Bingo website is going from strength to strength.

Rank Group also owns a number of other online bingo and online gaming operations and is one of the biggest gaming companies on the net. A buy out would be big news and the new owner would be in possession of a massive portfolio of profitable and popular websites. For this reason, there is always speculation behind any increased share holding but there's no doubting that between them, the Guoco Group and Genting Group now have a significant share in the company.

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