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MALAYSIAN GROUP INCREASES SHAREHOLDING IN RANK PLC TO OVER 18 PERCENT

Guoco Group, a subsidary of the Asia-based investment group Hong Leong (Malaysia) Berhad run by Malaysian billionaire Quek Leng Chan, has once again increased its stake in the British land and online gambling group Rank plc, this time to over 18 percent.
 
Genting Group, another Malaysian company, recently increased its Rank shareholding to 16.18 percent after several incremental purchases (see previous InfoPowa reports).
 
Guoco's latest move brings its interest in Rank plc to 18.08 percent. The voting rights in the shares are held by Asia Fountain Investment Company Limited ('AFI'), a controlled undertaking of Guoco Equity Assets Limited, which is a controlled undertaking of Guoco Group Limited ('GGL').
 
GGL is a controlled undertaking of GuoLine Overseas Limited which is a controlled undertaking of GuoLine Capital Assets Limited ('GCAL'), a controlled undertaking of Hong Leong Company (Malaysia) Berhad.
 
Goldman, Sachs & Co., acting as custodian for AFI, has an indirect interest in the shares.  70 565 512 of the shares are registered in the name of Goldman Sachs Securities (Nominees) Limited.
 
Guoco has been gradually increasing its stake in Rank since January. The group has been looking to build a base in the UK casino market, albeit with limited success. BIL, its subsidiary, made substantial losses in the first six months of its Clermont land casino ownership and has won only four out of 19 licence applications to build casinos, mainly within its Thistle hotel chain.
 
Genting and Guoco are not the only companies interested in Rank; the Richardson family, whose businesses are in property and haulage, are believed to have an interest of about 11 percent through contracts for difference.

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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