No Go For Harrah's in UK

Las Vegas casino giant Harrah's won't be able to snatch up United Kingdom based online gaming group Rank.

Harrah’s wanted to purchase up to 28% of the company, giving them significant ownership, in return for Harrah’s casino holdings in the UK.

Rank’s shares have taken a plummet over the past year due to enforced slot machine removal and smoking bans, plus increased government taxation. Yet many names have been reported as interested including Genting in Malaysia and Ladbrokes.

Harrah’s is in the process of being bought out by Apollo Management LP and TPG Capital.  The casino firm is already building a name for itself in the European poker market as owners of the World Series of Poker Europe.  Its first event took place this fall with BetFair Poker as the key sponsor. 

Rank's main gaming brands: are Mecca bingo, Grosvenor Casinos and Blue Square.

Blue Square was launched on 5 May 1999 and is one of the largest interactive betting services in the UK. The product suite offered by Blue Square has grown from its traditional bookmaking business to now offer all aspects of the gaming market including online casino, slots and online poker. The fixed odds betting services covers many channels including the Internet, Interactive TV, WAP and telephone.

Blue Square started in-running betting on the FTSE 100 Index followed by online Snail and Hamster Racing.