Rank, the online gambling, casinos and bingo group in the UK, has reported that there are some signs of recovery from the smoking ban in its locations.
Despite the smoking ban and regulations reducing the number of £500 jackpot machines, operating profits at Grosvenor Casinos fell only £400,000 to £29.5m in 2008.
Profits at Mecca Bingo fell from £43.6m to £41.8m. This would have been significantly more but for a £9.2m contribution from the group’s recover of overpaid Value Added Tax.
The group’s Rank Interactive and its Blue Square sports betting operation fell 10 per cent, principally because of adverse football results. The group now has its Blue Square operations under review and has recently changed its management team.
Pre-tax profits of the group fell to a £26.1m loss against a profit of £7.1m on revenues at £522m, down 2.3 per cent.
