Rank Group’s casinos helped the group deliver a “strong” performance in the year to June 30.
The company, which will become the UK’s largest casino operator when it completes the acquisition of Gala Coral’s casino estate, generated revenue of £600.5m during the period – an increase of 3.4 per cent on the previous year. Group EBITDA increased 7.6 per cent to £104.4m and adjusted profit before tax was nine per cent higher at £61.5m.
Revenue from Grosvenor Casinos, Rank’s casino arm, increased 5.1 per cent to £261.8m.
Ian Burke, chairman of the Rank Group, said he was pleased the company had achieved growth in earnings per share of 13.7 per cent, while strengthening its financial position. Rank also saw customer numbers increase, he said.
“While the current economic conditions remain challenging we have continued to increase the popularity of our brands and we look forward to the future with optimism,” he added.
Much of the growth in the casino business has been attributed to the success of the company’s G Casino brand, which has helped it to reach out to a broader base of customers and achieve greater profits. During 2011-12, Rank opened three new casinos – Stockton-on-Tees, Didsbury and Merseyside – and is planning to open additional properties in Southend-on-Sea and Reading in 2012-13.
