Budget Changes Ranks ! Up Bingo Investment
Rank’s Bingo Plans
Rank plans for 3 new bingo clubs and a programme of modernisation due to the chancellors announcement of Bingo duty.
The Rank Group Plc has committed to a programme of investment and job creation in its bingo clubs
as a consequence of the Budget announcement that bingo duty would be halved from 20% to 10%.
Rank, which currently operates 97 Mecca Bingo clubs across Great Britain, revealed that as a result
of the duty change it was now able to invest in the modernisation of the bingo industry through the
development of three new clubs and by updating existing clubs. In addition, the change will secure
the future of a number of existing clubs.
Rank Group chief executive, Ian Burke said: “The duty reduction is an important boost for Britain’s
bingo clubs, which provide a range of social and economic benefits for the communities they serve.
By reducing the rate of bingo duty, the Government has created a basis for renewed investment and
innovation. As well as helping us to create and preserve jobs, the change in duty will bring a range of
benefits for our customers, including improved amenities, better value and more fun. ”
Rank has identified a number of towns and cities in Britain where it would like to develop new clubs.
Now the Group will complete more detailed market research, commercial negotiations, planning
Importantly, the new clubs will be used as a base for innovation, testing new concepts and new
technologies to reposition its bingo clubs for the future. Rank’s hope is that this process of
innovation, research and development will trigger successive rounds of reinvestment nationwide.
The last Bingo club Rank opened was back in 2009 at Beeston Nottingham, prior to the announced change in duty no investment was planned in their bingo portfolio.Rank also estimates that this change in duty will not only secure the future of the exsiting clubs but also create another 200 jobs within the industry