Tag Archives: rank

Reawakened Rank secures options on £25m credit facility

Rank Group has entered an agreement with Lloyds Bank that will provide the LSE listed gambling group access to a £25 million (€29m) revolving credit facility. The facility has been made available to Rank for a period of two years , providing its business with additional liquidity and ‘the opportunity, when we are confident that the Group is delivering sustainable …

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Rank prioritises safe venue return as lockdown drains group performance   

Rank Group Plc has revealed that trading under lockdown conditions for its most recent quarterly reporting period has resulted in a 72% fall in group like-for-like revenues. This morning, the LSE gambling group published a Q3 2020/2021 trading and corporate liquidity update for the period ending 31 March, which stated that its Grosvenor and Mecca venue net revenues performance had …

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Rank completes phase one of Stride migrations

Rank Group Plc has migrated ‘Bella Casino’ onto its proprietary operating platform, thereby completing the first stage of the technology integration of its acquired Stride Gaming assets.  The LSE gambling group underlined progress on the key technology directive of merging Stride Gaming’s multi-brand UK online casino and bingo portfolio with its proprietary systems to expand its ‘Rank Interactive’ business unit.    …

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London casinos warn against blanket 10pm curfew

The Betting and Gaming Council (BGC) has confirmed that London casinos are prepared to close their bar premises in order to avoid a curfew being imposed on the capital’s entertainment venues. The BGC’s statement comes as the government reviews further lockdown measures to slow the spread of the coronavirus, as the UK enters its autumn months. Latest news reports suggest …

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Rank outlines plans to reopen Grosvenor venues

Rank Group Plc has communicated its plans to reopen 44 Grosvenor Casino venues across England from 1 August, adhering to the government’s social distancing orders and public safety rules.  Grosvenor, the UK’s largest land-based casino operator, will begin the staggered reopening of a selected number of venues in England from Saturday 1 August – as Wales and Scotland’s casinos remain …

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William Hill pursues HMRC FOBTs rebate 

William Hill has followed counterparts Betfred and Rank Group Plc in issuing an HMRC claim on compensation owed from tax charges related to fixed-odds betting terminals (FOBTs).  The FTSE bookmaker could stand to secure a multi-million £ tax rebate on FOBT charges issued between 2005 and 2013. William Hill’s HMRC rebate stands from an April High Court ruling that favoured …

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Rank confirms Euro business support to navigate COVID-19 impact 

Rank Group Plc is the latest gaming industry incumbent to issue a COVID-19 update to investors, today citing a slowdown in UK venue trading over the last three weeks. The LSE operator stated that despite the slowdown its UK venue portfolio of Grosvenor Casinos and Mecca Bingo ‘remained profitable last week’. Following the UK government’s civil advice to avoid leisure …

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Transformation directives see Rank confident of beating year expectations

Issuing a corporate filing, the governance of LSE-listed gambling group Rank Plc has this morning disclosed that ‘further positive trading’ will see the company deliver underlying operating profits ahead of market expectations. Updating investors, Rank governance underlines significant progress in its ‘corporate transformation programme’ which has underpinned growth within its Digital, Grosvenor and International units. Based on current trading trends, …

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Rank pleased with Grosvenor progress as critical Stride integration begins

Rank Group Plc has detailed further progress for the firm’s transformation objectives and confidence in future prospects, as the London listed gambling group publishes its latest trading update for the quarter ending 30 September 2019. Rank records a 10% increase in group like-for-like net gaming revenues (NGR), detailing strong continued growth across its digital channel up 16% NGR. Maintaining its digital …

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