Rank Group could be about to sell its online sports betting business Blue Square as it looks to concentrate on its casinos and bingo brands.
It said Blue Square, which offers sports betting, an online casino and online slots games, as well as providing sports betting for 888, continued to make a loss and that it would now ‘review’ the business.
“The business operates solely in the digital channel of the highly competitive sports betting market where it continues to generate an operating loss,” Rank said in a statement.
Rank revealed that Blue Square revenue had increased by 19 per cent back in October but that profitability would be stunted by the cost of a £2m promotional campaign.
Despite its 100,000 customers, Blue Square is relatively small compared to the super powers of UK betting; Ladbrokes, William Hill and Paddy Power. Analysts believe that any further to remote gaming tax could force smaller operators out of the business.
Guoco Group-owned Rank, added that it wanted to focus on the reach of its casino and bingo brands, Grosvenor Casino and Mecca. It is hoping to complete the £205m takeover of Gala Coral’s casinos.