Well, lots of news the last week around the industry about potential takeovers. Firstly, the FT reports that the Rank Group have another party interested in them, the latest of recent months to declare a major interest in buying the UK group behind the Mecca Bingo chain. The Asia based Guoco currently only have a 3.17% stake in the company. It’s already done business with Rank in the past and is joining the race to take over the troubled company. We’re still yet to see anything happen around the Rank buy out, but it shouldn’t be too long before we know the fate of the UK’s second biggest Bingo chain.
As well as sales in the retail environment, there’s also been news of a couple of big take overs in the online bingo world as well. First up is Parlay, the providers of one of the most popular online bingo platforms in the UK. The Canadian company has entered into a letter of intent to be acquired by the PEIC Acquisition Corp, subsidiary of Letton Investments Limited. According to the press release, “the acquisition of the shares of Parlay Entertainment Inc. would be the first of such investments.” Given Parlay’s continued success and growth, it could be quite a profitable move.
There’s also a lot of rumour surrounding the Virtue Fusion network and a potential take over. Virtue Fusion power some of the UK’s biggest online bingo, including Mecca Bingo, Ladbrokes and William Hill Bingo. It’s been rumoured that Playtech are in the process of trying to buy the Bingo network, although at the moment, both companies are remaining tight lipped. In my experience, Virtue Fusion has a far superior online bingo offering than Playtech, so lets hope that if this does go through, it’s Playtech updating their software with Virtue Fusion rather than vice versa. It’s just a rumour at the moment, so more on that when we see it.