Rank Suffers Revenue Falls at Mecca & Grosvenor

The Rank Group announced its half yearly figures showing declines in both its Mecca Bingo and Grosvenor Casino brands. Results in the firms online division helped keep the business flat lined or would have been much worse.

Mecca Bingo profits dropped by 5% to £13 million, while Grosvenor Casinos saw a fall in revenues by 1% with visitor numbers down by 7% compared to the same period last year.

The only thing that helped was the companies online gaming business that saw a rise of 15% in revenues to £61 million.

Overall Rank saw total revenues flat at £354.2 million with profits for the half year at £32.8 million a drop of 7% from the same period last year.

Chief Executive of Rank Henry Birch said of the results: “Along with much of the high street, we have faced a more challenging retail trading environment in the first half.“2018 promises to be a busy year with continued positive changes, including the launch of a single account and wallet product across Grosvenor’s retail and digital businesses.

“We remain confident in the outlook for the group, with management’s expectations for the full year unchanged.”