Tag Archives: grosvenor

Rank appoints Karen Whitworth as Audit Chair

London-listed Rank Group Plc has moved to strengthen its governance advisory, confirming the appointment of Karen Whitworth as a Non-Executive Director with immediate effect. An expert in the financial planning and risk management of large-scale enterprises, Whitworth is the former logistics and supply chain operations director of UK supermarket J Sainsburys Plc (2007-2018). Updating investors, Rank governance informs that Whitworth …

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Grosvenor improvements see Rank delivering on Transformation agenda

Publishing its Q3 2018/19 trading update (quarter period ending 31 March), the governance of London-listed gambling group Rank Group Plc details that its transformation programme is delivering on ‘expected cost savings’. Reflecting previous trading updates, Rank details that it has recorded improved digital revenues (+2%), whilst its venue like-for-like revenues remain flat. Nevertheless, the UK gambling group reports an improvement …

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Rank Group focusing on efficiency to overcome tough venue adjustments

Publishing its H1 2018/19 interim results (period ending 31 December), the governance of Rank Group Plc states that it has identified a number of core efficiency-led directives that it will undertake, as part of its ongoing corporate transformation programme. The London-listed operator’s performance continues to suffer from ‘venue declines’ as its flagship Grosvenor properties adjust to a tougher UK retail …

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Rank progress impacted by venue declines & digital obstacles

Ahead of its Annual General Meeting (AGM), London-listed Rank Group Plc has released a trading statement, updating investors on corporate performance for the 16-week period to 14 October 2018. Rank governance details that group like-for-like revenues have declined by 5%, with the company impacted by a slowdown of its venue properties – Grosvenor Casino and Mecca Bingo domains. ‘Grosvenor Casinos’ …

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Rank Digital places new compliance demands on affiliate marketing partners

Issuing a corporate statement, Rank Group Plc has announced that it has moved to toughen its affiliate program’s due diligence requirements for new and existing marketing partners, as the operator seeks to meet ‘elevated industry regulatory requirements’. Updating stakeholders, group subsidiary Rank Digital which operates the marketing services of Grosvenor and Mecca digital properties will add a series of new …

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Rank Group posts solid H1 growth through digital muscle & venue efficiencies

Publishing its half-year H1 2017/18 results (6-month period ending 31 December), FTSE-listed gambling operator Rank Group Plc has detailed continued digital growth combined with solid returns from its venues performance. Updating the market, Rank reports strong financial KPI growth for its trading period, declaring group adjusted profits of £40 million, up 17% on corresponding H1 2016/17’s £34.5 million. The FTSE …

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Rank Group boosts digital division to counter ‘Tough’ venue conditions

Tough retail conditions have impacted the H1 2017 performance of London-listed gambling operator The Rank Group Plc. The company has detailed a ‘challenging period’ in which its Grosvenor and Mecca venues have faced multiple increased costs. Updating the market, Rank would maintain group revenues of £754 million (1% increase), with the firm’s venue division generating like-for-like revenues of £642 million …

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Rank Group upgrades Playtech Neon systems contract to include Grosvenor games management provisions

Updating the market, FTSE-listed Playtech Plc has informed that it has secured a ‘significant extension’ of its Rank Group contract for system provisions of UK Grosvenor casino estates. The agreement will now see Playtech further integrate table and slots management system across Grosvenor’s network of 54 UK casino estates, boosting Rank Group games management provisions. Moving forward all Grosvenor casino …

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Rank Group appoints Martin Pugh & Alan Morgan as Grosvenor & Mecca MDs

FTSE-listed gambling operator Rank Group Plc (Rank) has announced two leadership appointments for its core assets, Grosvenor Casino and Mecca Bingo. Updating the market, Rank governance announced that Martin Pugh has been appointed Managing Director of its Grosvenor Casino division, having served as leader of Mecca Bingo (2014-2016). Pugh replaces Mark Jones as Grosvenor leader, who departed the company last …

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Grosvenor digital performance boosted by new platform

Rank’s online Grosvenor casino business has seen revenue boosted by 35% so far this year, but its online Mecca bingo brand has seen a dip during the same period. The firm launched its new digital platform, supplied by Bede Gaming, earlier on this year and its introduction has caused some short-term friction for the bingo brand, which saw revenues drop 5% as …

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