Rank Group is to undertake a review of its loss-making Blue Square online sports betting and gaming arm.
The London-listed gaming group said today that it intended to focus its resources instead on expanding the multi-channel Grosvenor Casino and Mecca brands.
The online sportsbook, which launched back in May 1999 with a press conference held at Goodwood racecourse, claimed to be the UK’s first online bookie, and was a pioneer of the irreverent and stunt-led style of marketing later deployed to great effect by Paddy Power.
In 2001, after an outbreak of foot and mouth disease caused the cancellation of the Cheltenham Festival, Blue Square famously organised the first hamster drag racing series, broadcast live over the internet. This generated high levels of exposure for the brand after being featured on live reports by Sky News and BBC London and in newspapers around the world, including full-page stories in The Sun and Daily Mail.
The business acquired by Rank for £65m from the Intercapital Group Ltd in 2003 however went into endemic decline in recent years, with its parent company today highlighting the impact of “the highly competitive sports betting market” in the UK.
888sports is currently powered by Blue Square following a deal between the two companies signed in late 2007, so will also potentially be affected by Rank’s decision, particularly if it opts for closure.
Blue Square has since 2007 been the sponsor of the Football Conference, the highest level of non-league football in England.
Rank said it would update the market on its plans for Blue Square in due course.
Article written by Stephen Carter
