Rank Group says Guoco raises stake in company to 11.24 percent UPDATE

LONDON (Thomson Financial) - Asia-based Guoco Group has again upped its stake in UK casino and bingo company Rank Group Plc., according to a filing to the stock exchange.

Guoco now holds about 43.9 million shares, representing 11.24 percent of the total voting rights.

Guoco has been gradually increasing its stake in Rank since the beginning of 2008, holding some 4 percent in January and 10 percent last month.

Rank has been subject to takeover speculation since Malaysian gaming group Genting purchased a 9.38 pct shareholding last year, subsequently boosting it to around 11 pct, although Genting has since ruled itself out of making a bid.

The Richardson family, which owns a property development and haulage empire, are also thought to have amassed a stake in Rank via contracts for difference.

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