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Online Casino in the Middle of Bidding Whirlwind
 December 13, 2006, 3:12 pm (5 years ago)William Hill joins its British rival Ladbrokes and a number of American groups who are running the rule over a potential acquisition as analysts forecast that a bidding war could erupt in the coming weeks.
UK based bookmaker and online casino operator William Hill is reportedly considering a takeover bid for Rank, the leisure group currently in the throes of selling its Hard Rock cafe business for an estimated £500 million.
Rank disclosed on Friday that US investment giant Fidelity had built up an 11 percent holding in the company, just days before this week's trading update, which is expected to include news about progress to find a buyer for Hard Rock.
The group’s bingo business, Britain's second-biggest after Gala, is currently suffering some instability as the number of casinos expands and internet gambling sites grow in popularity.
Rank has been unraveling as a mini-conglomerate and is attempting to focus on its casino and bingo operations following this summer’s announcement by chief executive Ian Burke that advisers were looking into options for its Hard Rock café business.
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