Rank Group Reports Positive Earnings
Rank Group
The casino and bingo operator, Rank Group, has reported positive earnings for 2010, noting that its success has been driven by an increase in new customers. According to the report, Rank’s casinos reported full year profits of £55.2 million, while overall revenue was recorded at £567.8 million – an increase of 5% when compared with last year’s results.
According to the report, while the average spend of a casino goer was down slightly, an increase in visitors to Rank’s casinos meant that revenue increased overall. The Financial Times has quoted Rank Group’s chief executive, Ian Burke, as suggesting that the operator’s new customers had a “greater interest” in food and drink. Burke has also proposed that catering is an avenue the operator will explore in its bingo halls, proposing: “we pay quite a bit of attention to what the Mitchells & Butlers (the pub chain) and Wetherspoons do”.
Rank Group is set to spend nearly £3 million on its casinos and bingo halls in the North West and has plans to improve its Grosvenor Casino offerings in Manchester. According to the Manchester Evening News, Rank Group has created more than 40 jobs in the region over the past few years.
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