Betting Exchange Giant Betfair Buys Blue Square Bet

Posted by: CasinosOnline in Casino News

Online casino and betting exchange specialists Betfair have announced a £5million deal to secure parts of Blue Square Bet Enterprises. The news comes just two months after Blue Square, who are owned by online gaming firm The Rank Group, announced a review into the running of their business.

After the review earlier in the year Rank announced that Blue Square Bet were continuing to operate their business at a loss, a loss that was put down to the highly competitive market of sports betting. So they have acted now before the situation gets any worse and they have taken the appropriate action by selling out to Betfair. Blue Square Bet customers will now have their accounts redirected to Betfair with immediate effect, and they will be able to gain instant access to some of the very best gaming and sports betting facilities around.

The Rank Group also own Grosvenor Casinos and Mecca Bingo and will now be concentrating their efforts on these two aspects of its business. A statement issued on behalf of Rank read, “Rank intends to focus its resources on further developing Grosvenor Casinos and Mecca as multi-channel brands meeting customer needs in gaming-based entertainment via venues, online and through mobile devices.”

A statement from Betfair regarding the buyout of Blue Square Bet read, “The acquisition is consistent with Betfair’s strategy of focusing on regulated markets and growing its sports book and gaming operations alongside the exchange.”

So it appears as though the £5million deal is a win win situation for everyone concerned. Blue Square customers will gain from the experience of Betfair, while Rank will look to grow Grosvenor Casinos and Mecca Bingo.