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Bidding War is Imminent

Rank plc is the brunt of immense speculation in the land and online casino gambling industry as three of the largest shareholders in the group continue to increase their share holdings. The Rank group has maintained over the past several months that the company has no intention of selling the business at this time. Yet despite those assertions, companies like Guoco, Genting, and Goldman Sach all hold more than 10 percent stakes in the company – and they are increasing their shares on what seems like a weekly or monthly basis. Goldman Sach is the latest company to announce yet another increase in its holding in the Rank land and online casino gambling group.

Goldman Sach now holds a 16.1 percent interest in Rank plc – this is a whopping 11 percent increase in the company’s holding as of last week. The new share holdings put Goldman Sach as the second largest shareholder in the company. Goldman Sach though has one other advantage over the other two companies that are showing an interest in Rank plc – Rank chose to transfer all of the company’s final pension scheme over to Goldman Sach earlier in the year. The transfer of its pension scheme is really what started all of the speculation and fervor over the Rank online casino gambling group.

As for the other two companies showing an interest in Rank, the Guoco online casino gambling group based out of Malaysia announced an increase in its share holdings last week; and at 17.08 percent holdings in Rank, Gouco has a slight lead over Goldman Sach. Bringing up the rear, Genting also has a significant percentage of holdings in the Rank group. The three companies are tightlipped at this point as to their long-term intentions for their holdings in the Rank land and online gambling group, but most in the industry speculate that Rank may sell off the company in parcels or allow a full acquisition in the near future.