Rank had been advised by Goldman Sachs to accept the offer, as they couldn’t guarantee that Guoco wouldn’t choose to cancel the listing if shares in public hands fell below 25%. Rank said in a statement to the London Stock Exchange that, “This would significantly reduce the liquidity and marketability of Rank shares which have not been accepted into the offer and the value of any such Rank shares may be significantly adversely affected as a consequence.”
In other news, the French gaming operator and former monopoly provider, Pari-Mutuel Urbain (PMU), will begin to separate its online and land-based hose racing betting activities. According to iGaming France, Pierre Pages, PMU Secretary General, the operator has consulted the French Competition Commission following advice that it issued earlier this year. It included criticisms that PMU, along with Francais des Jeux (FDJ), had retained an advantage thanks to the monopolies the two held prior to regulation.