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REVENUES DECLINE AT RANK PLC

London-listed land and online gambling group Rank plc revealed in a trading update this week that its revenues declined by 8 percent for the 41 weeks to 12 October compared to the same period last year.
 
The positive news was that over the past six weeks performance has improved, showing a 5 percent uptick against the same period last year.
 
Rank was in the news earlier this week when the Malaysian group Guoco announced further purchases of Rank stock, bringing its holding up to 23.17 percent (see previous InfoPowa report).
 
Difficulties in the Spanish economy had adversely affected operations in Top Rank Espana, the statement revealed, additionally commenting that the online gambling subsidiary Blue Square was still struggling with unsatisfactory sportsbook performance.
 
Mecca Bingo revenue declined by 12 percent during the reporting period, with admissions down 12 percent and spend per head just level with the comparable period last year. However, in the six weeks since the start of September 2008, like-for-like revenue grew by 2 percent, with an 8 percent rise in spend per head off-setting a 5 percent decline in admissions. Rank has gained licensing permission for 83 adult gaming centres located within Mecca Bingo properties, of which 64 are now operational. This has enabled the group to increase the number of B3 jackpot gaming machines it operates from 406 at the start of the year to more than 660 at present.
 
The group's Spanish bingo operation Top Rank Espana continued to be affected by the difficult prevailing economic conditions in Spain. In local currency, revenue declined by 4 percent with admissions and spend per head each down by 2 percent. This was offset by the strength of the Euro against Sterling, which resulted in a 6 percent increase in reported revenue.
 
In Rank's Grosvenor Casinos division, like-for-like revenue declined by 3 percent in the first 41 weeks of the year, with admissions down 14 percent but spend per head up by 10 percent. In Rank's provincial UK land casinos, revenue was 10 percent lower, with admissions down 15 percent and spend per head up 6 percent. In London, revenue was up by 1 percent, with admissions down 9 percent and spend per head up by 12 percent.
 
The group reported that in the six weeks since the start of September 2008, like-for-like revenue grew by 14 percent, with a 33 percent rise in spend per head off-setting a 14 percent decline in admissions. At the provincial casinos, revenue declined by 1 percent with 19 percent growth in spend per head offsetting a 17 percent decline in admissions.
 
London casinos grew revenue by 33 percent, largely as a result of average win margin returning to more normal levels, with spend per head up 41 percent and admissions down 6 percent.
 
On the operational front, Rank said the G Casino in Aberdeen would open this month, the company's first casino in Scotland and the sixth in Great Britain under the G Casino brand. Grosvenor Casino in Moortown, Leeds had been closed following losses since the Government's decision to make a substantial increase to rates of casino gaming duty in last year's Budget.
 
Blue Square, which carries the main group interactive gambling business, grew revenue by 1 percent during the first 41 weeks of the year. Gaming achieved 7 percent growth in the period, led by a strong performance from meccabingo.com. But revenue from sportsbook activities declined by 11 percent, reflecting the highly competitive nature of the sports betting market.
 
Rank expects to benefit from a ruling by the UK Duties & VAT Tribunal in May 2008, that it should no longer pay VAT on games of interval bingo. This is expected to result in an annualised cash benefit to the group of around GBP 6 million, with effect from July 2008. The statement cautions, however, that the ruling is being appealed by Revenue and Customs.



Gambling News :

Alegriabet Finally Launches - Our online betting site will deliver a full, market-leading suite of services including pre-match and live betting as well as virtual sports

International Table Tennis Federation in deal with Sportradar. - The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.

NBA odds on Thunder vs. Pacers Game? - This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.

2 New Christmas Slots For Microgaming - Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.

SportsBetting Supreme Court Showdown - Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)

Mega Moolah Progressive Slot Pays Again - On 15 November 2017, the Mega Moolah jackpot was won by a Grand Mondial Casino player. They took home €938,306.35.

Microgame S.p.A. in deal with Prima Networks - Prima Networks, powered by Microgaming, has signed a deal with Microgame S.p.A., the leading Italian gaming service provider.

NBA Odds: Heat Can Burn Cavaliers in Cleveland - The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.

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.

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