The online sportsbook reported continued growth in online gaming and stronger sportsbook margins than in 2005.
Blue Square parent company, The Rank Group, complained that profits in its Gaming Division, operating Grosvenor Casinos and Mecca Bingo, remained under pressure due to various factors, including higher business costs, changes to the taxation of gaming machines and impact of the smoking ban in Scotland.
UPDATE: According to industry analysts, Rank\’s stock market value is getting close to the point where private equity firms would be interested in making a move. Analysts believe a private equity firm could easily afford to pay 275p a share for Rank, a valuation in line with that paid by Permira for Gala Bingo. The possibility of a bid for Rank makes its shares a buy at current levels.
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