Rank still in the hunt for deals after William Hill rebuffs takeover bid

Business correspondent(es/wp):
Rank “still has the confidence” to look at major deals despite its aborted £3.4 billion joint bid with 888 for rival William Hill, its boss said today.
“I’m still surprised that William Hill did not want to engage with us,” said Henry Birch, who would have become chief executive of the bigger group if the three-way deal had come off.
“I was extremely surprised that they did not understand the rationale of the deal. But we’ve got the confidence to look at deals like this and we will continue to look at deals, particularly the larger ones which involve digital,” he said.
But when asked if a straight two-way merger with 888, which is strong in digital gaming, was on the cards, Birch declined to comment. The bid for Hills came and went in just nine days this month. Birch (pictured) said the costs were relatively low: “The bankers were on a no-deal, no-fee basis.

“It was a short, sharp affair in terms of the number of people involved and it did not distract from getting on with our business. Just myself and a handful of people missed our summer holidays.”
He asserted that Rank can equally well go it alone. “We are halfway through a two-year programme of investing in a business which historically was underinvested,” he said. “We are in a strong financial position with market-leading brands and have a clear strategy for long-term growth.”
Rank today reported a 4% rise in headline annual pre-tax profits at £77.4 million on revenues up just 2% at £753 million.
Profits were dented by the first full year of so-called remote gaming duty, which taxes punters wherever the online operator is based to the tune of £4.8 million, and the national living wage, which added £1.4 million to Rank’s payroll.
Mecca Bingo online saw a sharp fall in profits as it bore the brunt of the new tax and suffered some “stability issues” after it switched to a new technology platform.
The casinos division Grosvenor had a disappointing final quarter of the year to end-June with customer numbers down and the win margin lower. Birch said: “The Euros and uncertainty over the referendum hit the number of customer visits but that was the case across the casino sector. In July and August customer numbers are back up again.”
Birch said the Brexit decision would have little direct impact on Rank because it is so predominantly a UK-facing business. However, it could be hit by lower economic growth and any fall in consumer confidence.
The dividend for the year is raised by 16% to 6.5p a share and they responded with a 7.5p rise to 229p, their highest for two months.

Family of man 'hunted down' and stabbed to death by mob urge witnesses to break silence

crime reporter(wp/es):
The family of a man “hunted down” and stabbed to death after an argument at a boxing match today urged witnesses to break their silence and help get justice for his young daughters.
Luther Edwards, 32, was set upon by a group of at least 15 men as he left York Hall in Bethnal Green. He was stabbed in the chest and left to die on a petrol station forecourt.
The attack took place in front of his sister Naresa Edwards and the mother of his 12-year-old daughter, who were both kicked and punched as they tried to shield him from the knife blows.
Ms Edwards, who held her brother in her arms as he fought for life, today spoke for the first time about the murder to beg for help to catch his killers, four weeks after the attack.
Police arrested and bailed three men in connection with the murder on July 29 but no one has been charged.

Ms Edwards told the Standard: “My brother was my world. He was a good, caring man who loved his two daughters with all his heart — now they will grow up without a father.
“We had the first birthday party for his youngest daughter on Saturday. It should have been happy but it was sad. We want justice for his daughters, for his family and for him.
“He was an innocent man out with his sister and the mother of his daughters when he was attacked.
“We believe people filmed the attack on him and filmed inside the boxing match and we’d ask people to go to the police with those images as they could be what helps to catch those responsible. We are frightened his killers are still walking the streets.”
 His family said today the murder followed an argument at the bar in the boxing venue between Mr Edwards and a stranger which they believed had been resolved.
Mr Edwards, who they said had nothing to do with gangs, had taken his sister and former partner to the venue in Old Ford Road to watch a friend box.
Some 45 minutes later, at about 10.35pm, he was attacked by a group of “ethnically diverse, heavy-set men” as he left the building after the final bout.
The family believe the group had also left the hall after watching the final fight. Despite paramedics’ efforts to save Mr Edwards, he was pronounced dead at around 11.40pm.

The former Lambeth College student, who lived in Clapham and grew up in Stockwell, worked as a HGV driver to provide for his daughters, Nylah, one, and Aaliyah, 12, who has cerebral palsy.
His family said: “A simple argument at a boxing match should not lead  to death, should not lead to a good man being hunted down by a mob, killed in the street and leaving his  family feeling broken. We are bereft, we are grief-stricken and we demand justice for Luther, for those whom  he left behind and for those who  loved him.”
A 31-year-old man was arrested six days after the attack, and two other men aged 23 and 26 were arrested in subsequent days. All have now been bailed until September.