Online Casinos Company Nearing End
Industry analysts are predicting that the Rank online casinos group could be
nearing an end – at least an end to the previous company structure. Several
companies involved in the online gambling industry have purchased stakes in the
company, and Harrah’s has announced that it will renew its efforts to obtain a
piece of the Rank gambling group. With the online casinos industry in a constant
state of flux, internet gambling companies are looking for easy ways into
existing companies.
That’s where Rank comes in as a perfect opportunity for a company like Harrah’s,
which is involved in the land-based casinos industry, but does not yet have an
established foothold in the online sector. Harrah’s previously made a bid for a
28 percent share of Rank – a bid that was refused by the company. But it seems
that since that time Rank has altered its opinion on other companies buying into
stake in the online casinos gambling group. Two other companies now own an 18
percent share in Rank – and with that news, Harrah’s has renewed possibilities
that it will be able to bring Rank, plc to the bargaining table.
Both other companies are also involved in the online casinos and land-based
gambling industry, Genting and Richardson Capital have purchased a stake in
Rank. Industry analysts predict that Harrah’s will begin negotiations with Rank
once the Harrah’s takeover is complete. Harrah’s Entertainment is currently in
the process of a takeover deal that is rumored at roughly US $1.7 billion. Once
Harrah’s has finalized those details later this month, most predict that
negotiations with Rank are imminent.
And though the fact that other companies interested in the online casinos
industry are looking at Rank as an investment, the fact that Rank is selling
stake in the company doesn’t bode well according to some industry analysts. One
went so far as to comment, "Whatever happens, this is the beginning of the end
for Rank."
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