Rank Group Announce Annual Results with Revenue & Profits Fall

Grosvenor Casinos

The Rank Group who operate brands such as Grosvenor Casinos and Mecca Bingo announced its full year figures ending June 30 showing revenues falling to £638 million for 2020 compared to £695 million the previous year.

Pre-tax profits stood at £15.4 million compared to £34.6 million in 2019, with the company saying that the impact from COVID-19 and the enforced closure of all its businesses has an adverse effect.

However the company believes that it will grow its revenue again through the remainder of 2020 and beyond, with the bingo and casino business operating at about 70% of previous revenues.

The company also said that it was not issuing a dividend for 2020 because of the impact of the pandemic and would look at possibilities beyond the year should revenues improve.