Sign Up For Card Player's Newsletter And Free Bi-Monthly Online Magazine

Blue Square Poker Owner Rejects Bid Offer

Rank Group, Home To Grosvnor Casinos and Blue Square Poker, Says No To Asian Buy Out

by Brendan Murray  |  Published: May 09, 2011

Print-icon
 

Rank Group Plc, the UK-based gaming oerator which owns Blue Square Poker and the Grosvenor UK Poker Tour, has rejected a bid from Asian investment company Guoco.

Guoco made a mandatory offer for the company after it had increased its shareholding to 40.8 percent on Friday. The offer was 150 pence per share.

However Rank said that this was only 0.8 percent above Friday’s closing price and that it undervalued the company significantly. It advised sharholders to ignore the bid and do nothing.

The news comes just days after Entraction, the online gaming and poker network, was courted by U.S. gaming giant IGT. The Swedish-based operator has recommended shareholders accept the €77 million offer.

 
 
Tags: Rank Group,   Blue Square Poker,   Grosvenor UK Poker Tour,   Guoco,   Online Poker
 
 
Newsletterbanner Twitterbanner Fbbanner
 
Improve your poker skills with the free Card Player Poker School
 
 
 
 
Get-it-delivered-240