Rank has avoided the merry-go-round of mergers and acquisitions in the gaming sector over the past couple of years, although it was involved in a putative attempt with 888 Holdings to buy William Hill last summer that never went anywhere. The presence of Quek Leng Chan, the Malaysian businessman, on the share register with a 56 per cent holding would dissuade any hostile approaches, although he has slimmed down his stake in recent years and the shares are more widely traded in London.
The first half of this financial year was disappointing, although there was some improvement when Rank produced an operating profit of £46.9 million in the six months to June 30 against £36.6 million last year. The group comprises three divisions, with two