Rank Group Bingo Machine Revenue Drops 3%

23/08/2017

Rank Group has reported a seven per cent drop in annual pre-tax profits to £79.7m.

Amusement machine revenue was down 3 per cent to £69.7m and interval game revenue down 7 per cent, food and drink revenue also dropped by two per cent. Total group like-for-like revenue was up 1.0 per cent to £754 million, boosted by a 15 per cent increase in UK digital revenue to £111.5 million.

On a statutory basis, revenues were broadly flat at £707.2 million (2015/16: £708.5 million).

At its Grosvenor casinos division, revenue was down 2.6 per cent to £397.2 million and operating profit was down 14 per cent to £52.1 million which Rank blamed on a combination of “macro-economic conditions, customer due diligence, venue closures and competitor openings”.

Chief executive Henry Birch said: “After a challenging first half of our financial year, we are very pleased with our second half performance, especially with our digital business which delivered 63 per cent growth in operating profit for the year.”

Comments (1)

Add Your Comment

I’m not surprised. They’ve put all their eggs in one basket. Row after row of 777 T8 machines, a combination of greed and taking their eye off the ball. Luda Is going to be an expensive mistake for Mecca.

JGSlots
Online
24/08/2017, 16:18

Add Your Comment

* Required field. All comments are reviewed before appearing.