Partner Article

Rank Group up the ante

Rank Group, the owners of Grosvenor Casino and Mecca Bingo brands, have reported a 9% rise in profits in the year to July.

The betting and gaming company has also grown revenue by 3.4%, as its 37 casinos contributed 52% of the Group’s operating profit.

While visits were up for the firm, average revenue per customer was down slightly by 1.4%.

Ian Burke, chairman of The Rank Group Plc said: “I am very pleased to announce that Rank has again achieved growth in earnings per share whilst strengthening our financial position and increasing the number of customers that we entertain.

“While the current economic conditions remain challenging we have continued to increase the
popularity of our brands and we look forward to the future with optimism.”

The company’s Top Rank Espana arm suffered in the difficult Spanish climate, as operating profit fell 65%.

Rank Interactive, the online business, increased revenue during the 12-month period by 20.8% to £77.7m, with a particularly strong performance from Mecca brand driving a 26.5% rise in operating profit.

In the trading statement, Rank also said it has ambitions to buy rival Gala Casinos by the end of September.

The move, which remains subject to UK merger control clearance, would add 23 more casinos under the Grosvenor brand.

This was posted in Bdaily's Members' News section by Tom Keighley .