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

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