Over the last couple of years we have seen the last rites read to Rank Group on a number of occasions, nobody anted to take them over, debts were mounting and their brand was moving down the leagues fast – or so we were told. This week the group has announced results which show that both casino and bingo operations are improving and the worst may be over.
Those who follow the casino sector in the UK will know that Rank Group’s casino operation, Grosvenor Casino, has apparently been struggling of late but today’s pictures tell a very different tale. Revenues have climbed by 14 per cent over the last six weeks and there are signs that the operation is now back on track. But is this a reflection of the UK market or just the Rank situation?
While there is no doubt that Rank has been suffering prior to the last few months we have yet to hear of any real downturn in UK casino spending as a whole – although it seems inevitable that it will soften at some stage. This is a plus point for the UK industry at the moment although analysts and experts are unsure how much longer the industry can swim against the tide.
Over the last couple of years we have seen the last rites read to Rank Group on a number of occasions, nobody anted to take them over, debts were mounting and their brand was moving down the leagues fast – or so we were told. This week the group has announced results which show that both casino and bingo operations are improving and the worst may be over.