The Financial Times have a piece on the Rank Groups profits for last year, that sees the trend of losses continue. Rank chief executive Ian Burke mentions that 2008 will be a “challenging year” for business. As a part of their plan, the group has sold their pension plan to Goldman Sachs, which will free […]
Tag: RankGroup
Rank, Parlay And Virtue Fusion Takeover News
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 […]
Duke Chasing Rank
There’s been more movement in the chase for Mecca the last couple of weeks that I’ve yet to catch up with. Just before Christmas, the private equity group Duke Street Capital made an offer to buy Rank. Speculation about a take over at Rank continues, and Duke Street Capital join the list of parties associated […]
Rank Shares Drop
Rank’s shares have taken a bit of a tumble to hit their lowest point in almost 20 years. Bloomberg reports that the company behind the Mecca Bingo chain’s shares have slipped 21%. The impact of the smoking ban and the change in gaming machines brought in with the 2005 Gambling Act have contributed to a […]
200 Job Losses For Mecca Bingo
The oncoming smoking ban and decling position of Rank as a Bingo giant will see 200 jobs going across the UK in the Mecca Bingo chain. The 200 job losses are a premptive cut to ofset the UK wide smoking ban that will be coming into effect next year. Once again, I have to moan […]
