Last year we heard about Mecca Bingo selling off part of the shares in the company to the giant Malaysian gambling company Genting. They actually sold of 11 % of the shareholding, and now we hear that they are in the process of selling more shares to the Guoco group, also a Malaysian gambling concern, who already holds a stake in Rank, the parent company of Mecca bingo. This increases their stake in the company to a huge 12.67%.

Mecca bingo is a major force in the UK bingo business, it is a successful Brand and they are also famous for operating online bingo. At present that are experiencing strong profitability challenges in their land based bingo halls and this more than likely is attributed to the fact that external factors have impacted on turnovers., these include double taxation, the smoking ban and the removal of section 21 slots machines from bingo clubs.

This move has caused speculation as to whether there might be a takeover bid in the works, however I suppose that we shall have to take a “wait and see” attitude regarding he possibility of a pending takeover. Mecca Held out against the US gaming giant Harrah’s, in their attempt at a takeover. But his latest sale of shares has the bingo pundits wondering what is going to happen next.