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Rank PLC Business Drops

Thursday October 17,2013 : SLOWER BUSINESS FOR RANK PLC
 
Latest interim management statement shows that digital is still delivering, but at a lower rate.
 
The online and land gambling group Rank plc issued a 15 week interim management report Thursday, noting a 7 percent decline in like-for-like revenues caused by the exceptionally hot weather in July adversely affecting customer visits, a lower casino win margin in London and a disappointing performance in Mecca's venues and digital channel.
 
On the positive side, recently acquired Gala casinos have performed well and integration has been completed. Total Group revenues increased by 15 percent as a result of the continuing contribution from the 19 recently acquired casinos.
 
In reacting to the situation, management is taking both revenue improvement and cost reduction actions to mitigate the impact of the revenue decline, particularly in the Mecca brand.
 
However, the Board warns that it anticipates operating profit for the full year will be marginally below market expectations.
 
Like-for-like revenue in the 15-week period declined by 7 percent, offset by total revenue, which increased by 35 percent as a result of the 19 acquired casinos.
 
Venues were adversely impacted by the July hot weather and a lower than normal win margin in London; this contributed to a 6 percent fall in customer visits and a 8 percent fall in like-for-like venues revenue in the 15-week period.
 
Like-for-like spend per visit fell by 2 percent in the 15-week period due to the lower than normal win margin in London.
 
In the Digital division revenue continued to grow and was up 19 percent, however the rate of growth has slowed due to the intensely competitive market environment. Despite an increase in digital spend per visit, the increasingly competitive digital bingo market adversely impacted the effectiveness of marketing and customer acquisition campaigns.
 
Additionally, following the disposal of Blue Square Bet, the allocation of shared service costs to Mecca's digital channel increased.

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Gambling News :

2017 Super High Roller Bowl Schedule - Poker Central, POKER PROductions and the Aria Resort & Casino have released details on the 2017 Super High Roller Bowl taking place 28-31 May.

Super Multitimes Progressive HD Slot - This 3-row, 5-reel slot features Multipliers, Wilds, Free Spins and four Progressive Jackpot levels offering increasing wins to heighten player engagement.

2017 Aussie Milliona Updates Events 2,3,4 - Taiwan's James Chen bested Australian Rainer Quel heads up to win the first championship ring of the series in which he defeated a field of 48 players in Event 2: $2,500 H.O.R.S.E. earning the top prize of AUD$39,700.

Juventus name VWin as Partner - “We are very satisfied with this new regional partnership that confirms Juventus’ global growth in high potential markets such as this one,” Giorgio Ricci, co-chief revenue officer & head of global partnerships and global revenue for Juventus said.

Luckia Group 2016 Results - The group reports record turnover of Euro 269.66 million, up 12 percent over full year 2015 with EBITDA standing at Euro 44 million, a 26 percent increase over the previous year.

Fire Rooster Slot Launches - This 5-reel, graphic-rich slot is based on the Chinese legend, The Rooster’s Lament, in which the Jade Emperor chooses specific animals to represent the months of the year.

n2-Live Updates - The company promises new features designed to enhance the playing experience that “further distance our gaming solutions from the ‘me too’ products currently available in the market place.”

Betfred FY 2016 - Betfred has seemingly reversed its fortunes with a strong 2016 delivering a GBP 28,438,000 operating profit as opposed to the GBP 77,312,000 loss in fiscal year 2015.

BetConstruct has joined the National Council on Problem Gambling - BetConstruct has joined the National Council on Problem Gambling (NCPG) saying it feels a duty to support an organization that strives to keep gaming fun and safe for all.

Cherry CEO Fredrik Burvall Steps down - Anders Holmgren, currently a board member of Cherry AB and one of the founders of Betsson where he also held the role of chief executive officer of Betsson Malta

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