Rank: public spending down but could net VAT boost

26/10/2011

Rank Group saw the recession hit its London sites with spending per head falling in its Grosvenor Casinos in the last 12 months.

Rank’s Mecca bingo chain also reported flat sales – but the group saw a more healthy 21 per cent growth in its online and mobile phone gaming and bingo operations.

Rank claimed that the smoking ban has continued to affect its performance and the group is awaiting a decision at the European Court of Justice next month concerning overpayment of VAT on bingo machines. If this goes in Rank’s favour it will add £275m to the group’s bottom line.

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