HEATING UP Goldman Sachs has upped its shareholding in Rank Group to 16.10 percent, a move which is sure to reignite bid talk as Guoco Group Ltd. last Friday increased its stake in the struggling operator to 17.08 percent.
Shares were indifferent to the move Tuesday and closed down 0.75 pence, or 1.12 percent, to 66 pence.
Goldman owns 62.8 million shares, and is Rank's second-largest stakeholder behind Guoco, the investment arm of Hong Leong Group Malaysia, which holds 66.7 million shares.
Incidentally, Goldman bought out Rank's £700 million pension fund in late February, shortly after which Genting Berhad, the Malaysia-based investment arm of Genting Group, denied rumors it would launch a $959 million offer for Rank.
Andrew P. Lee, an analyst with Dresdner Kleinwort in London, has told Interactive Gaming News that the prospect of a Genting bid is unlikely.
However, Goldman and Guoco are not the only entities interested in Rank. The United Kingdom's Richardson family, whose businesses are in haulage and property, is thought to hold at least an 11 percent stake by way of contracts for difference.
What the future holds for Rank is unclear, as struggles well documented continue within its casino and bingo arms, Grosvenor and Mecca.
The London-listed company has remained the steady subject of takeover speculation since its September 2007 profit warning.
MOBILE MOVES Cantor Gaming, the London-based gaming affiliate of Cantor Fitzgerald, has signed an agreement with M Resort, Spa and Casino in Las Vegas to provide mobile gaming technology to the casino, scheduled for completion in the spring of 2009.
Under the terms of the deal, Cantor will exclusively supply the casino's gaming floor and sports book with its hand-held gaming devices that allow patrons to place best remotely in designated areas of the property.
In May 2006, Cantor became the first company licensed by the Nevada Gaming Commission to offer mobile gaming in the state.
TOUGH TIMES Interactive Systems Worldwide Inc., a software developer in New Jersey, revealed record wagering volume during June but has yet to solve its larger cash-flow issues.
Last month, Global Interactive Gaming Ltd., the company's live-betting subsidiary in London, recorded $4 million in turnover, a 77 percent increase against the same period last year.
The company did not specify whether volumes were helped by the UEFA European Football Championships, which began June 7 and ran until month's end.
After Interactive Systems announced in April that it expected to be "cash-flow positive" following the renegotiation of a revenue sharing agreement with its largest client, Sportingbet, the company is "actively pursuing other strategic transactions to try to resolve its longer-term liquidity needs."
On the company's second-quarter results in May, it had liquid resources of $124,000 on a net loss of $320,000.
Meanwhile, Bernard Albanese, chief executive of Interactive Systems, has agreed to a short-term contract extension and a pay cut to allow the company time to resolve its liquidity issues.
MOVING ON Warren Cloud, the operator of online casinos like Americas Online, Lucky Coin Casino and Crystal Palace, died of a heart attack on June 28.
Interactive Gaming News on Monday confirmed reports of Mr. Cloud's death with a manager at Real Time Gaming, the software company that licensed Mr. Cloud's casinos.
"Warren did pass away on June 28, 2008 from a massive heart attack while on his boat in Spain," the source, who wished not to named, told IGN in an e-mail. "The funeral took place on Sunday with family and friends attending from all over the world."
Mr. Cloud was believed to be 34 years old and leaves behind a wife and young daughter.