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Rank Group Updates
Thursday July 28,2011 : RANK GROUP IMPROVEMENT CONTINUES
Favourable indicators for UK land and online gambling group
The UK internet and land gambling group Rank plc, in which Asian group Guoco recently acquired a controlling interest in a GBP 585 million deal has posted an encouraging first half set of results.
H1 numbers for the six months ended June 30 2011 include:
* Group revenue of GBP 294 million (2010: GBP 281.1 million)
* Statutory revenue of GBP 282 million (2010: GBP 269.6 million)
* Group EBITDA before exceptional items of GBP 47.8 million (2010: GBP 43.1 million)
* Group operating profit before exceptional items of GBP 29.5 million (2010: GBP 28.6 million)
* Group operating profit after exceptional items of GBP 97.5 million (2010: GBP 66.1 million)
* Adjusted profit before tax of GBP 26.3 million (2010: GBP 25.1 million)
* Net cash of GBP 37.2 million (net debt of GBP 123.4 million at 31 December 2010) due mainly to the receipt of GBP 162.8 million in VAT refunds.
* Dividend per share of 1.00p (2010: 0.74p)
Group key performance indicators included:
* Customers up 5.1 percent to more than 2.6 million.
* Customer visits up 1.5 percent to 11.5 million following product and service improvements
* Spend per visit up 1.0 percent to GBP 22.71 led by a strong performance in Mecca Bingo
* Offline-online crossover 3.1 percent driven by the Mecca brand’s internal affiliate scheme
Key events over the half-year included:
* Growth in customers and customer visits from UK brands
* Single brand strategy for casinos; plans announced for significant UK expansion of Grosvenor Casinos brand creating more than 1,400 new jobs by 2015
* European Court of Justice hearing on GBP 275 million VAT claims; rulings expected by the end of 2011
* Additional VAT claims of at least GBP 275 million disclosed
Chairman Ian Burke reported to shareholders: “During the first half of 2011 we have maintained the progress of recent years as rising customer numbers drive profit and revenue. We have a portfolio of some of the strongest brands in UK gaming and the ability to reach our customers through our estate of well-invested venues, our high quality websites and increasingly via mobile channels."
Gambling News :
Games Concept Day in Malta -
The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
$75K Win on Mobile Slot @ CafeCasino -
Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.
2017 Punta Cana Poker Classic Results -
The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.
NHL Odds: Winnipeg Jets vs. Minnesota Wild -
Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.
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