Online Bingo Group Receives Impressive Takeover Bid
Wednesday, May 11th, 2011 - Alfie Williams
The world of online gambling is quite often about high-stakes and not all of these are the ones the players take on. The Rank Group has just received an impressive takeover bid from a Malaysian tycoon who made clear in the past he would like to take over part of the UK online gambling company.
Specifically, Quek Leng Chan Company, Guoco has offered a £586 million takeover bid and this may be coming at just the right time for the rank group who've suffered several hits in some of their own bingo parlors due primarily to smoking bans that have come into effect in both the UK and Spain.
Although they have just won a tax case against the UK government, the overall feeling from online gambling insiders is that the company is in a bit of financial trouble.
One of the aspects that make the takeover bid most interesting is the fact that Rank is one of the largest companies in the UK when it comes to online bingo as well as online poker and online gambling. Some see it as a preemptive move to tap into what will be a lucrative American market when online gambling is regulated and legalized there.
You must be over 18 years of age to register and to place a bet. The company reserves the right to ask for proof of age from any customer and customer accounts may be suspended until satisfactory proof of age is provided.
St Minver Limited is licensed by the Gibraltar Licensing Authority and regulated by the Gibraltar Regulatory Authority under the 'Gambling Act 2005'.