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RankPlc interim management statement
Thursday October 16,2014 : RANK PLC REPORTS ON PAST FIFTEEN WEEKS
Few fireworks in latest IMS.
The UK listed online and land gambling group Rank plc issued a brief interim management statement for the 15 weeks to 12 October 2014 Thursday, reporting a 3 percent increase in like-for-like revenues over the period driven by the performance of the Grosvenor Casinos brand.
Total revenue increased by 2 percent, with the digital division delivering revenues up by 4 percent following a recent TV marketing campaign and a more competitive sign up bonus.
The Grosvenor Casinos brand reported revenue growth of 5 percent in the period, driven by a 2 percent increase in customer visits, a 3 percent hike in venues revenue and a significant 71 percent rise in digital revenue.
For the Mecca brand, like-for-like revenue grew by 1 percent, with total brand revenue flat year-on-year.
Henry Birch, chief executive, said:
"The group has had a good start to the financial year and I am pleased with the improvements seen in our Grosvenor Casinos brand, particularly in its digital channel, and the actions to strengthen the performance of our Mecca brand are showing some positive signs."
"We continue to work on our strategic priorities outlined in our 2014 preliminary results announcement and expect to provide a more detailed update at our forthcoming interims in January 2015."
Birch added that his group's performance in the period has been in line with management's expectations and the Board remains confident on prospects for the year.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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