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Rank Revenue Increases

Rank Revenue Increases

Written by: Glo Wood on 10/05/2012 10:50
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Revenue has increased at bingo, casino and online gaming company Rank Group.

Rank has experienced a 5% LFL revenue growth rate within the 18 weeks leading up to May 6th. This brings revenue up 4% as a result of performance at Grosvenor Casinos and Rank Interactive.

Rank Chairman, Ian Burke said, "I am pleased that the group continues to achieve solid revenue growth despite a challenging trading environment. In the period, the group's UK businesses have continued to invest in programmes that will broaden the appeal of our brands."

Mecca Bingo's LFL revenue during the analyzed period was on target with last year as they saw customers spend more per visit which was offset by a reduction in customer visits. Mecca invested some money into their food and beverage offerings which aided in increased revenue.

"The board is encouraged that its UK businesses have continued to make progress and expects the group's full year performance will be in line with our expectations," the firm said.

"While the economic outlook in the UK and Spain seems likely to remain challenging, Rank is in a strong financial position, possesses market-leading brands with multi-channel distribution and has a clear strategy for sustained long-term growth."

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