SBC News Voice of the Sports Betting Industry
The Rank Group has announced a 3% increase in like-for-like revenues for the 15 week period to 12 October 2014 driven by the performance of the Grosvenor Casinos brand.
Henry Birch, chief executive of The Rank Group Plc, commented: “The Group has had a good start to the financial year and I am pleased with the improvements seen in our Grosvenor Casinos brand, particularly in its digital channel, and the actions to strengthen the performance of our Mecca brand are showing some positive signs.
“We continue to work on our strategic priorities outlined in our 2014 preliminary results announcement and expect to provide a more detailed update at our forthcoming interims in January 2015.”
Among the 5% increase in revenues experience by the Grosvenor Casinos division was a huge jump in digital revenues. Improvements in VIP management, a growing customer base driven by cross-sell from land-based venues and the impact of the Grosvenor Casinos branded live casino (launched November 2013) drove revenues up 71% in the period.
Digital revenues for Mecca Bingo in the 15-week period also rose by a more modest 4% driven by the recent TV marketing campaign and a more competitive sign up bonus.
The Group’s said its performance in the period has been in line with management’s expectations and the Board remains confident in the Group’s prospects for the year.
