Rank Group disposes of Blue Square Bet

The Rank Group has disposed its Blue Square Bet arm following a review of the loss-making sports gambling business.

The Rank Group has disposed its Blue Square Bet arm following a review of the loss-making sports gambling business.

The European gaming company said it has sold the assets of Blue Square Bet to Betfair for £5.0m.

"Rank intends to focus its resources on further developing the Grosvenor Casinos and Mecca brands in venues and via digital channels," the group said in a statement.

The news comes after the FTSE 250 firm announced that received regulatory approval to acquire a raft of casinos from Gala Coral Group in the UK.

The share price rose 0.12% to 165.20p by 15:55.

RD

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021
The future belongs to emerging markets – three EM stocks to buy now
Share tips

The future belongs to emerging markets – three EM stocks to buy now

Professional investor Carlos von Hardenberg of Mobius Capital Partners picks three of his favourite emerging-market stocks.
5 Jul 2021