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Betfair Looking to Acquire Bluesquare
Friday March 8, 2013 : BETFAIR INTERESTED IN 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
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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