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Showing Some Faith

The Rank plc land and online casino gambling group could be receiving a takeover bid in the coming months according to industry speculation. An Asian-based gambling group, Guoco, has steadily increased its percentage of share holdings in the Rank online casinos group. Rank operates popular internet gambling sites as well as a few land casinos that have faced hard times in the past year after the UK smoking ban and other changes in the European gambling industry. But the fact that Guoco continues to increase its share holding is a sign on faith that Rank has the potential to comeback from some of the declining profits within some of the company’s various divisions.

The latest reports indicate that Guoco now has an 11.14 percent holding in Rank. This equals 44 million shares. Guoco began the 2008 fiscal year with a mere 4 percent holding ownership stake in the land and online casino gambling group. From that point though it appears as though Guoco’s subsequent and gradual increases in ownership stake could indicate an interest in taking over the company.

At this point it is only speculation that Guoco has interest in anything more than the voting rights attached to a larger ownership stake in the online casino gambling group. The online casinos industry has significantly grown in the past several years, and analysts predict that this trend will continue to 5 to 10 more years before the industry levels off to a plateau. That prediction of future profits in the gambling industry could provide motivation for Guoco to have a full stake in an internet gambling company.