More Shareholders For Rank PLC

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Published: Monday, December 10, 2007 https://www.gowanbo.cc

Property group Richardsons has bought 9.3 percent of gambling group

The UK gambling group Rank plc, which has successful online gambling operations, has been the centre of attention on the London market over the past two weeks, first rejecting an attempt by US giant Harrah's to acquire a 28 percent interest, then having to accept the accretive acquisition of 10 percent of its shares by Malaysian casino group Genting Berhad.

Now the UK property group Richardsons Capital has announced that it has achieved a 9.3 percent interest in Rank via a contracts for difference (CFD) deal.

Apparently undeterred by market fears of the impact of smoking bans and over-taxation, Lee Richardson, a director at the UK-based firm, was quoted in the UK Sunday Times this weekend as saying: “I think Rank is grossly undervalued. It is a strong company and a strong brand. It was time to get the cheque book out. It’s an investment decision and that’s it.”

Richardsons is thought to be a long-term investor in Rank. The firm has previously built both [land] casinos and bingo halls for the company.

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Asian Company Grows Stake In Rank Group

Thursday, February 07, 2008 mgowanbo.cc

Guoco now owns a 23 million share slice of Rank plc action

In a move that increases its holding in UK gambling group Rank plc to 6.05 percent, the Asian-based property investment group Guoco managed by Quek Leng Chan, has expanded its holding in the UK casino, bingo and online betting company to 23 million shares.

Guoco held 4.09 percent prior to this week's acquisition of further equity.

Malaysia-based gaming group Genting has also built a 10 percent stake in Rank, and analysts say the Richardson property and haulage family has acquired a 9 percent holding.

Guoco is a property investment group, and bought the Clermont Club in London’s Berkeley Square from Rank in 2006 for GBP 31million.