Profits grow for The Rank Group
Gambling company Rank delivered strong growth in profits as it saw half-year revenues near the £400 million mark.
The firm, which has Mecca Bingo's across the Black Country and in Telford as well as a Grosvenor Casino in Walsall, turned over £397.4 million in the six months to December 31 2019, up from £348.2 million 12 months earlier.
Group underlying net gaming revenue also increased by 10 per cent, while pre-tax profit climbed to £39.8 million from £18.7 million.
John O'Reilly, chief executive of The Rank Group, said: "We are pleased with the group's first half performance which demonstrates that the transformation programme is delivering the right results.
"The revenue growth in our digital business and across our Grosvenor and Enracha venues shows that we are moving in the right direction in key areas of our business.
"We remain on track and are confident in our ability to deliver operational and financial improvements underscored by a relentless commitment to delivering exciting, entertaining and safe gambling environments and experiences for our customers."
The Rank Group acquired online casino and bingo operator Stride in October 2019.
Mr O'Reilly added: "The successful integration of Stride into our business will ensure that we benefit from strong synergies, proprietary technology and a first-class digital team, all of which will position us well for the second half of the year."
