Tag Archives: rank group

Rank softens year earnings as UK venues catch a cold 

Rank Group Plc has downgraded its 2021/2022 full-year EBIT profit guidance from £55m-to-£65m to the lower range of £47-to-£55m – having considered  Q3 trends that detail a ‘softness in venue trading’ and ‘continued inflationary costs’.     The LSE gambling group has notified investors that it continues to monitor post-pandemic elements that are impacting the full recovery and day-to-day trading of its …

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Ben Warn joins high-flying Checkd Group as chairman ahead of US launch 

Checkd Group has appointed Ben Warn to serve as its first Non-Executive Chairman of the fast-growth sports betting media business.  A seasoned sports betting executive, Warn has served as a corporate advisor of Checkd since 2019 and will provide his oversight on the company’s strategic objectives.  The Manchester-based business group has appointed its first Chairman as  it embarks on a …

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Julie Markey appointed interim Chair of XLMedia

XLMedia (XLM) has moved to strengthen its senior leadership team following Christopher Bell’s decision to vacate as Chair, appointing Julie Markey in an interim role.  Markey steps into the position of interim Chair from her current role of non-executive Director of the Company and Chair of the remuneration committee, and will assume the responsibilities of the job whilst the company …

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Rank returns to H1 profits buoyed by all unit recovery

Rank Group Plc welcomes a return to profitable trading, driven by the strong recovery of its Grosvenor, Mecca and Enracha (Spain) venues remerging their businesses from COVID-19 constraints.  Publishing its interim H1 2021/22 results (period ending 31 December), Rank registers a group underlying NGR of £334 million, up 90% corresponding to H12020/21 results of £175 million. Period growth was maintained, …

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Rank appoints Richard Harris as inbound CFO

Rank Group Plc has confirmed the inbound appointment of Richard Harris as Chief Financial Officer (CFO) and a board director of the LSE-listed gambling group. The executive appointment will take effect from 1 May 2022, with Harris set to replace incumbent Bill Floydd who resigned this summer, choosing to join luxury retailer Watches of Switzerland. Harris is the current CFO …

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Rank to collect +£80m HMRC VAT settlement

Rank Group Plc has reached an agreement with HMRC in relation to its outstanding VAT refund claim on slot machine income.  Providing a market update, Rank disclosed that HMRC has agreed to issue a refund of £77.5 million paid machine duties paid from April 2006 to January 2013. In April 2020, an Upper Tribunal judgement voted in favour of Rank …

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John O’Reilly: Reflections on 2005 Gambling Act needed for best industry outcomes 

Rank Group Chief Executive John O’Reilly believes that a positive outcome to the government’s generational review of the 2005 Gambling Act should “rewrite the industry’s historical flaws”.  Delivering the keynote speech at the ‘Reputation Matters: UK Gambling’s Future at Stake’ conference, O’Reilly provided his leadership take on legislative developments amid concerns of how the UK gambling sector will be re-shaped …

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Rank Group identifies return to form for digital business in Q1 trading update

Rank Group has reported that its trading is ‘in line with expectations’, highlighting a return to growth for its digital business whilst its retail division has experienced significant expansion.  Publishing its trading results for the period ending 30 September 2021, Rank revealed a 5% year-on-year increase in net gaming revenue growth for its digital business whilst its retail division saw …

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EU Lotto fined £760k by UKGC for AML and social responsibility failings

The UK Gambling Commission (UKGC) has taken regulatory action against Lottoland operator EU Lotto, fining the firm £760,000 for social responsibility and anti-money laundering failures.  An investigation by the regulator concluded on 2 September that the company had failed to properly implement Commission’s formal customer interaction guidance, such as neglecting to recognise frequently changing deposit limits as an indicator of …

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