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Betfair Looking to Acquire Bluesquare

Ailing Rank company could be worth over GBP30 million if it can be sorted out
Insider rumours circulating in London Friday are that online gambling group Betfair is negotiating a deal to acquire Blue Square Bet, a currently ailing online sportsbook subsidiary of Rank Group plc.
Earlier this year Rank indicated it would be prepared to let the enterprise go if it was offered the right price. The company revealed that it was discussing possibilities with several potential suitors, and noted that it would prefer to consolidate and focus its efforts on its casino and bingo brands, Grosvenor Casino and Meccabingo.
InfoPowa readers may recall that Blue Square was the subject of a review by its owners mid-January 2013. Back then a company spokesman said that the sports betting market is highly competitive and Blue Square “...continues to generate an operating loss”.
Rank purchased Blue Square in 2003; the company has approximately 120,000 punters and has been promoted with generous advertising budgets. In October last year a GBP 2 million campaign lifted revenues by around 19 percent.
However, the British government's proposals to tax online gambling companies at the same rate as retail bookies come December 2014 in a switch to a point-of-consumption tax expected to levy 15 percent on gross profits will impose additional costs.
Analysts have predicted that the government’s move will drive smaller operators out of business and lead to further industry consolidation.
Rank is currently in the process of completing a GBP 179 million acquisition of 19 of Gala's 23 land casinos

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Gambling News :

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

Novomatic has announced a legal action against Euro Games Technology - Online and land gambling equipment and games provider Novomatic has announced a legal action against Euro Games Technology Ltd., which it claims has unfairly created imitations of its slot games.

Starcraft ProLeague SHutting Down after 14 Years - Announcing the end of the road for the League, once pre-eminent in Asian eSports gaming, the Korean Esports Association blamed ethical scandals and competition for its decline in popularity.

Team Hot Launches - #teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.

Netent Q3-2016 Earnings Report - #netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.

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