Ladbrokes considers Rank bid
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Ladbrokes, the betting arm of UK-based Hilton Group, is believed to be considering a bid for Rank Group – the £2.5bn owner of Mecca Bingo and Grosvenor Casinos.
The news follows Friday’s announcement that Hilton is in talks to sell its hotel business – Hilton International – to US-based Hilton Hotels Corporation (HHC) for £3.6bn.
Meanwhile, several leading private equity firms are understood to be preparing offers for Ladbrokes, which is worth about £3.7bn, according to The Sunday Times.
Should the Hilton International sale go-ahead, it is likely that a standalone Ladbrokes would be the UK’s largest betting operator.
The deal, which would re-unify the Hilton brand after its split in 1964, could take several weeks. A spokesperson for Hilton said there was no further update since Friday’s announcement.
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Ladbrokes, the betting arm of UK-based Hilton Group, is believed to be considering a bid for Rank Group – the £2.5bn owner of Mecca Bingo and Grosvenor Casinos – following Friday’s announcement that Hilton is in talks to sell its hotel business to US-based Hilton Hotels Corporation (HHC) for £3.6bn.
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