BUSINESS

Rank Group has online to thank for strong figures

TAGs: Grosvenor Casinos, Mecca Bingo, Rank Group

rank-group-figuresRank Group has released figures for the past year showing that the economic downturn isn’t causing them any worry whatsoever.

One of the groups rumored to be looking over with covetous eyes at whether Gala Coral breaks up their business had all areas of the business to thank, including the highly successful Rank Interactive part of the company.

Profit before tax for the entire group was up to £55.2m from £48.5m with the Grosvenor Casino and Mecca Bingo brands both performing above expectations.

“We own a number of established and trusted gaming brands and have the rare ability to deliver them across a range of land-based venues and remote channels,” said Ian Burke, chief executive of Rank Group.

He continued, “We are developing increasingly sophisticated systems for understanding and engaging with our customers and our management team is motivated to deliver outstanding service to customers.”

As far as the specific results for Rank Interactive are concerned, revenue was up by 13.6% to £57.7m from the figure in 2009 of £50.8m. Rank Interactive will be glad that the bingo and casino parts of the business performed though.

Revenue from bingo and games sites increased by 22.4% and casino revenue was up 11.8% with optimism ahead of the current year.

There was again disappointment in the poker sector for the group as the competitive climate was given as the reason for a decline in revenue of 37.9%. Sports betting also suffered a similar fate as revenue from the Blue Square part of the business decreased by 3.5%.

With the land-based casino and bingo parts of the business performing very well, it will remain to be seen whether they lodge a serious bid for Gala Coral.

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