Source: Ogpaper.com
The like-for-like revenue has increased by 3% in the first 3 months of the year, as the company is evermore focusing on its gambling business. Rank runs the Grosvenor casinos and the online gambling website Blue Square, which are seeing increase in profits, however its Mecca Bingo is pulling back, 1% lower revenues compared to last year. The biggest decline is in Rank’s gambling properties in Scotland, after the country imposed a smoking ban.
Grosvenor Casinos, granted this March a license to open a new casino in Southend, is seeing a revenue increase of 3% and spending up 10%, but admission was down 6%.
Blue Square, on online gambling website offering sports betting, casino and games, saw an increase of the whopping 40%.
The results of the gambling company did not seem to satisfy the investors, its stock closing negative 0.25% at 197.500 today (after hours at 196.49).
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