Rank Group reports flat revenues as governance reaffirms full-year expectations

Issuing an ‘Interim Management Statement’, FTSE-listed UK gambling operator Rank Group Plc (Rank) has reported that it expects to post ‘flat revenues’ revenues for its trading update for the 15-week period to 9 October.

Ahead of its Annual General Meeting, Rank the operator of Grosvenor Casinos and Mecca Bingo halls reiterates its full-year target expectations.

Publishing a brief trading update, Rank governance states that group like-for-like revenues during the period have grown 1%.

Issuing brief  trading insights, Rank governance detailed that Grosvenor Casinos’ venue like-for-like revenue declined by 1%, principally driven by a lower than average margin and lower customer visits.  Mecca venue like-for-like revenue was flat during the 15-week period.

Grosvenor Casinos’ digital channel continued to grow strongly, with revenue up 30% in the period.  However, its Mecca digital division revenue fell by 4% in the period, Rank governance would detail that trends Mecca digital trends in recent weeks have been encouraging countering the divisions revenue downturn.

Rank Group will aim to release its half-year results on 26 January 2017, closing its interim management statement, Rank governance stated that ‘expectations for the full year remained unchanged’.