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11 May 2011
Bingo News: Mecca Bingo big takeover rejected
Rank who are the parent company of Mecca Bingo, the largest bingo provider both online and in land based clubs have been involved in talks of a takeover for some time now. The company has hit the news again as one of their major shareholders has just increased their which is now above 40%.
There are mixed feelings about this news as one person having more shares in the company means they see the potential of the company which will have knock on effect on others who will be more likely to buy shares because of this. This then makes the share price go up which is good news for the company and good news for the players who can be sure they are playing in a safe and secure environment.
The down side to this news is that this level of share ownership means the buyer has to make an offer for the whole of the shares. In this case Quek Leng Chan a Malaysian businessman has made an offer of 150p per share after valuing Rank at £586 million. This figure has been rejected as extremely underestimating the value of the company but has caused a rise in share price which are currently 151.6p.
The service at Wink Bingo will not be impacted by this deal and new players who register at the site will still get 100% cash match on their first deposits up to £50 as well as having free reign of the Newbie Room here you can learn how to play bingo or brush up on your skills for free.