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APR
 Rank Post 2% Profit Increase in Last Quarter

Rank Post 2% Profit Increase in Last Quarter

Written by: Jeannie on 17/04/2011 20:30

How are the big bingo firms getting on so far this year? Not at all bad actually if the latest results from the Rank Group are anything to go by.


An Increase on Last Year’s Revenue and More to Come....
 

The Rank Group PLC runs both the Mecca Bingo operation and the Grosvenor casino chain. They have just announced that in the year up to the 10th of April their revenue showed a modest but encouraging 2% increase.
 

It was also pointed out the profits made at those Mecca Bingo halls which have been operating for more than 12 months was a more impressive 4%. The Grosvenor Casinos part of the business didn’t contribute that much to the good news due to what the Rank Group called an “unusually low” win margin in London.
 

The official word from the CEO of the Rank Group, Ian Burke, is that it was a “positive start” to 2011 and that the established non London parts of the group are behind the good results but that the London elements should soon start to increase their revenue. He also pointed out that last year’s figures included the important Easter bingo period, while this year’s don’t.
 

The people who visit the Mecca Bingo clubs across the country keep doing it in the same sort of numbers, while the amount they spend has shown that 4% increase. The increasing importance of online bingo, of which Mecca Bingo is one of the top names around, was not covered in the CEO’s statement but it is clear that this is going to be become an ever bigger slice of their business.
 

Categorised Under: Bingo News,
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