Rank Group Increase Profits
Rank Group Rewards Its Share Holders
Despite the economical downturn and the reported double dip recession Grosvenor Casinos continue to increase there profits and go from strength to strength. Perhaps it in this time of apparent decline people need a release or Grosvenor Casinos are providing exactly what people want on a night out , somewhere fun, vibrant, good food and great entertainment. They may have the winning formula but with a 5% share of the regulated gambling market it seems there is plenty of disposable income out there.
Ian Burke, chairman of The Rank Group Plc said:
I am very pleased to announce that Rank has again achieved growth in earnings per share
whilst strengthening our financial position and increasing the number of customers that we
While the current economic conditions remain challenging we have continued to increase the
popularity of our brands and we look forward to the future with optimism.
Still have the immanent acquisition of the Gala Coral Casinos which would then propel them to the biggest Casino operators in the UK above Genting’s. Is this a good for the Casino Industry, well from a standards point of view yes, from a customer choice ! well the punters will decided as variety is important in any market place as it naturally raises all standards of competition and keeps mediocrity at bay, as we all want the best of what we can for as little as we can.
Rank Group Profits
This Year sees the Rank Group celebrating its 75th Year and an increase in revenue over the previous 12 months by 4.2% but the biggest boost is the operating profit which increased by 10.9% serving some 2.3 million customers . The encouraging success for the Grosvenor Casino is their “G” branded casinos which has a higher attendance rate of nearly 4000 people per week compared to the more *traditional Casino (2500 P/W) along with a greater spend per head in the “G” Casinos (19 Venues at Present) this must be encouraging to the share holders as the “G” branded Casino will be the standard model going forward.
Chief executive’s review
This year, Rank celebrates its 75th
birthday and I am pleased to report that we are also able
to celebrate the Group’s financial performance. Rank has grown revenue and operating profit
during the period despite tough economic conditions and our financial position remains strong
with net cash of £41.8m. As a consequence of this performance, the board has
recommended a total dividend for the 12 months ended 30 June 2012 of 3.60p, up 35.3% on
the previous 12-month period’s total dividend per share. Rank’s annualised dividend per
share has grown at a compound rate of 31.2% since 2009.
Rank Group Social Media
Social networks – a new route to market
The increasing popularity of gaming via social networks represents both an opportunity and a
challenge for Rank’s brands. In response to customer demand, we intend to make a number
of ‘social games’ available to play on Facebook during 2012/13. Nevertheless, whilst we are
excited by the opportunity that these games represent for market growth, we remain
concerned about the absence of regulation in this sector.
Is it Good for Business if the Rank Group acquire Gala Coral, Tell us Your View