Mecca Bingo Owners Receive Support from Malaysian Investor
21/06/08 07:29 Filed in: Bingo News
Rank PLC, the company which owns and operates industry giant, Mecca Bingo have sold further shares of the enterprise to the Guoco group of Malaysia. The recent business transaction has meant that Guoco now owns 12.67% of Rank’s overall holdings and has further spurned rumors that a full-scale takeover may be in the cards.
Although land-based bingo halls have been suffering in recent years, Mecca Bingo has still maintained a formidable presence as one of the premier online offerings, making the transition from traditional to virtual business seamlessly. The company’s ability to keep pace with the times along with the brand recognition which Rank enjoys in the UK means that their operations present an enticing option for foreign investors. Although for now this move only means an influx of funds for Rank’s business there have been members of the press who foresee larger implications for the future.
With Guoco’s transaction London-based observers have continued to speculate that a bid may soon be placed to buy out Rank PLC entirely. This theory is further supported by the purchase of an 11% holding in the business by the Genting group, a fellow Malaysian company with interests in the online gaming industry. Whatever the case, players themselves should be able to take heart that Rank and Mecca Bingo itself are in no danger of losing funding anytime soon.
Although land-based bingo halls have been suffering in recent years, Mecca Bingo has still maintained a formidable presence as one of the premier online offerings, making the transition from traditional to virtual business seamlessly. The company’s ability to keep pace with the times along with the brand recognition which Rank enjoys in the UK means that their operations present an enticing option for foreign investors. Although for now this move only means an influx of funds for Rank’s business there have been members of the press who foresee larger implications for the future.
With Guoco’s transaction London-based observers have continued to speculate that a bid may soon be placed to buy out Rank PLC entirely. This theory is further supported by the purchase of an 11% holding in the business by the Genting group, a fellow Malaysian company with interests in the online gaming industry. Whatever the case, players themselves should be able to take heart that Rank and Mecca Bingo itself are in no danger of losing funding anytime soon.
