| Rank Reports Increase in Bingo and Casino Customers |
| Written by Mark Bennett |
| Thursday, 09 February 2012 10:44 |
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Rank the British gaming group has released its latest financials showing an increase in the pretax profit. The number of customers in its bingo clubs and casinos increased, although the Spanish operations didn't perform to well. Rank, which is the parent company of Mecca Bingo and Grosvenor Casinos, is 74.5 percent owned by Malaysia's Guocco. The gambling giant said pretax profit rose to 32.5 million pounds ($51.4 million), up from 30.1 million the year before. Revenue rose to 295.9 million pounds from 286.7 million the previous year. Customers at Mecca Bingo rose by 50,000 to 770,000 for the period and Grosvenor Casinos reported 762,000 customers, an increase of 61,000. The growth in the casino and bingo numbers helped to ofset a decline in revenue and profit at Top Rank Espana where trading has been hit by the introduction of a smoking ban. Rank currently has 35 casinos and 103 bingo halls in the UK and has adopted a strategy to increase the appeal of its venues with better service and facilities. "While we remain cautious on the consumer environment, the strength of the group's financial position along with a portfolio of well-regarded brands presents a strong platform to build on," Chairman Ian Burke said in a statement. Rank is currently in talks with Gala Coral in relation to the purchase of the Gala Casino brand.
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