Rank Group Post Trading Update

The Rank Group who operate Grosvenor casinos and Mecca bingo brands issued a trading statement on their current performance stating that at present the company is “in line with management expectations”.

Given that current COVID restrictions are impacting on business Rank said that although London is being effected more so than provincial, with trading there similar to 2019 levels, however London with the lack of tourism and the continuing travel at night is impacting to the tune of 38% lower figures.

Average weekly non gaming revenues (NGR) for the casino division totalled £5.5 million and Mecca £2.6 million which are both down on comparable 2019 figures by 17% and 20% respectively.

On the companies digital business it remarked that it expected to come in towards the same figures as in Q2 & Q3, which would be disappointing given that all other online gaming companies had posted improved numbers given the current pandemic.