Casino News

Genting makes move for Mecca Bingo

2007-12-27 11:46:56

Following speculation that Harrah's Entertainment may about to make a bid for UK casino operator Rank Group, private equity group Duke Street Capital has launched a bid for Rank's Mecca Bingo subsidiary, according to reports.

A proposal was sent by Duke Street - which has been involved with Ritz bingo in the past - to Ian Burke, Rank's chief executive, the Sunday Times revealed.

Mecca Bingo has been performing particularly badly for Rank in recent months following the introduction of the smoking ban.

Rank has been struggling so much that it cancelled its final share dividend for this year and many expect that either Genting or Harrah's will manage to purchase the company in 2008.

Genting, which owns Stanley Leisure, has already purchased shares in Rank, which many felt was an attempt to prevent Harrah's from launching a takeover bid of its own.