Mecca Bingo Reject Takeover

Mecca Bingo LogoThe land based and online bingo giant Mecca Bingo have rejected a recent takeover bid. The parent comapny “Rank” is currently listed on the London stock exchange. Major share holder, Malaysian investor Quek Leng Chan recently increased  his stake in the company to over 40%.

Whether this is good or bad for the players remains to be seen. The fact that someone else desires majority control of the gaming group shows that they see a strong and stable company.

This means that in the event of a takeover, promotions and offers are likely to get even better due to the extra cash injection. However this latest bid does shake things up a bit.

Mr Leng Chan has offered 150p per share to the Rank group. Valuing the company at £586 million pounds. However this offer was quickly rejected on the grounds of it undervaluing the company. After this revelation, the company share price has risen to 151p per share.

The future ownership seems uncertain but it looks like Mr Leng is determined to get majority control of the company. However, due to owning 40% of the company Mr Leng has great say in how the company is currently run. That is why we are certain ownership will have little effect on players and is more of a behind the scenes squabble for money and control.

Keep your eyes peeled to this situation over the coming months. Something tells me that we may see some interesting developments.

Related Posts

  • Subsequent to implementing a search warrant at two gaming centers at Alabama, which includes the one in Greenetrack in Greene County, the Attorney General’s office seized seven hundred machines earlier today. The incident has recurred yet again at the same gaming center after 800 bingo [...]   Read More>>
  • People played bingo to raise funds for the repair of a war memorial at an entertaining event, which was held at the Seaham-based Marlborough Pub. According to a news report in the Sunderland Echo, the venue decorated with sandbags and netting looked as if it [...]   Read More>>
  • We have heard of poker cheats, blackjack cheats and even cheating at roulette, but bingo is a game that it is almost impossible to cheat at – unless you have an understanding with the bingo caller. Marilyn Creapeau, a 56 year old bingo player from Gresham [...]   Read More>>
  • The online bingo industry is thriving and expanding and bingo players have now come to expect the launch of a brand new bingo site almost every month! This month of May, the bingo community has been advised to prepare itself for yet another new bingo [...]   Read More>>

Free Bingo Money No Deposit

Learn how you can play bingo for real money without depositing a single penny. Enter your email to get sent our best free bingo offers.