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Rank results up 9% - online bingo +24 online poker -27%, iGamingPost

Rank results up 9% - online bingo +24 online poker -27%, iGamingPost | Poker & eGaming News | Scoop.it

Rank Group profits have risen 9% rise, thanks mainly to its Grosvenor Casinos business, its online operations but more especially the Mecca bingo brand.

 

Even through the difficult economic times, Ranks pre-tax profits on continuing operations rose to £61.5m in the year to June, up from £56.4m a year earlier, which represents an excellent return, with also customer numbers up 4.9%, the group said.

 

But the average amount Rank brings in per customer fell by 1.4% to £224.82, which was expected because of the current position of the nation in recession.

 

Rank said it aimed to complete its purchase of Gala Casinos next month. This will add 23 casinos to its 37 Grosvenor outlets, making it the UK’s biggest casino operator.

 

Other sources: 

http://www.casinochoice.co.uk/2012/08/17/rank-goes-social-despite-regulation-concerns/

 

Mecca’s online and mobile revenues were up an impressive 24.6% year-on-year to £56.2m in the 2011/12 period, which Rank attributed to improved cross-channel marketing, product upgrades, the strength of the Mecca brand and several high-profile advertising campaigns. The percentage of Mecca customers who interacted with the brand across both online and offline channels was 5.5%, up from 5.2% in 2010/11.

 

Mecca’s contribution to the dominant bingo and games online segment, which grew 24.1% to £59.7m, helped Rank Interactive to a 20.8% rise in revenue to £77.7m, and a 26.5% rise in operating profit to £10.5m.

 

Online casino also improved in the period, up 49.1% in revenue to £8.5m, which the company said reflected greater support and promotion in the Grosvenor offline venues.

 

Revenue from Rank’s Blue Square sports betting brand dipped 6.7% to £8.4m, despite the period including most of the Euro 2012 football tournament. The company blamed a “drop in stakes”. Poker was down 26.7% to £1.1m “because of increasing competition”.

 

Other sources:

http://www.cardplayer.com/poker-news/13904-poker-revenue-down-27-percent-at-rank

http://www.gamblingcompliance.com/node/49804

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Rank to buy Gala Coral’s casinos, Tom Victor EGR Magazine

Rank to buy Gala Coral’s casinos, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

Rank Group has reached a conditional agreement to acquire Gala Coral’s 23 land-based casinos for a sum of £205m, some £45m less than the figure first mooted when discussions between the parties began in January this year.

 

The agreement covers 23 venues across the United Kingdom, representing all of Gala’s land-based casinos with the exception of Dundee and Gibraltar, bringing Rank’s estate up to 58 properties. Nine of these venues will be rebranded under Rank’s ‘G Casino’ banner.

 

Other sources:

http://yogonet.com/english/2012/05/14/rank-buys-gala-casinos-for-us-329-3-million

http://www.gamingintelligence.com/manda/16010-rank-agrees-p205m-acquisition-of-gala-coral-casinos

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UK Online Market Tops £1.71bn - £242m in taxes, Scott Longley, GamblingCompliance

UK Online Market Tops £1.71bn - £242m in taxes, Scott Longley, GamblingCompliance | Poker & eGaming News | Scoop.it

The UK government can expect to generate up to £242m in revenues from the introduction of its planned point of consumption (POC) tax, according to the results of a new report from GamblingData.


In detailing the UK online gambling market to be worth £1.71bn in net gaming revenue (NGR), GamblingData suggests that between 5.25-7.25 percent of the market would end up avoiding the tax at the proposed 15 percent rate.

 

Other sources:

http://www.gamblingcompliance.com/node/49599

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