Tag Archives: rank group

The Gambling Commission is playing hardball with the Rank Group as it imposes a £5.85m fine for social responsibility and anti-money laundering failures at subsidiary Daub Alderney. The regulator is adamant  that gambling operators will face the full consequences of regulatory failures, even if breaches occurred prior to ownership, however Rank believes that there are both equity and public policy …

Rank Group Plc has confirmed the resignation of Bill Floydd as Chief Financial Officer (CFO) of the LSE gambling group, who is moving on to join luxury retailer Watches of Switzerland.  An executive search has begun for Floydd’s replacement, as Rank’s financial officer will maintain the role until the end of year trading. The former CFO of Experian UK and …

Rank Group Plc has been granted a 60-day extension by the First-tier Tribunal Tax Chamber (FTT) to resolve its settlement on incorrect gaming machine duties charged between 2005 and 2013 with HMRC.  The LSE gambling group is guaranteed a tax rebate as HMRC can no longer challenge its appeal previously rejected by an Upper Tribunal review – which serves as …

Rank Group Plc has confirmed the promotion of Eitan Boyd to the leadership position of Group Chief Innovation Officer (CIO). Boyd is the former Chief Executive of Stride Gaming, the multi-brand igaming operator acquired by Rank in 2019 for £120 million. The promotion was disclosed by Rank governance updating investors on the LSE group’s digital progress, in which Rank stated …

Rank Group Plc has urged the government to radically overhaul the laws governing UK land-based gambling venues, as a remit of its ongoing review of the 2005 Gambling Act.  Yesterday, the LSE gambling group published its 2020/2021 results, which revealed statutory losses of £93 million – as Rank’s trading was gutted by Grosvenor Casino and Mecca Bingo properties observing lockdown …

Rank Group Plc has disclosed statutory losses of £93 million, as the LSE gambling group closes accounts on a year ravaged by COVID-19 headwinds.  Publishing its preliminary results for 2020/2021 trading (12-months ending 30 June) Rank registered a 50% decline in underlying net gaming revenues to £288 million. Year trading saw Mecca Bingo and Grosvenor Casino properties restricted to ‘59% …

Bookmakers and hospitality businesses are examining whether they are in-line to receive multi-million VAT refunds from the government, in relation to HMRC overruled calculations on FOBTs charges.  This weekend, The Times reported that up to 1,000 UK businesses that operated fruit machines, one-armed bandits and coin-pushers are reviewing whether to claim compensation from HMRC.  The dispute relates to HMRC collecting …

Rank Group Plc has deployed its proprietary-built ‘Hawkeye’ real-time safer gambling monitoring system, observing customer engagements across its flagship online properties of Grosvenor Casino and Mecca Bingo. Updating stakeholders, the LSE gambling group completes a key 2021 corporate directive, ‘investing significantly’ to revamp its customer care capacity, allowing its teams to better identify player risks and carry-out interventions were necessary.  …

A group of Betting and Gaming Council (BGC) members have committed to donate all-profits from the Britannia Stakes, giving a ‘major’ financial boost to a selection of charities. Participating BGC members include bet365, BetVictor, Betway, Entain (Ladbrokes, Coral), Flutter Entertainment (Paddy Power, Betfair, Sky Bet), William Hill, Kindred (Unibet), Rank Group (Grosvenor Sport), the Tote and Fitzdares. “I am absolutely …