Bingo! Rank Group reports a full house of half-year profits

Joseph Millis
Clickety-click go the tills at Rank
MECCA bingo owner Rank Group yesterday reported a 29 per cent rise in half-year profit, helped by its Grosvenor casino business and online operations.

Rank said adjusted pre-tax profit rose to £35.8m in the first half ended 31 December, from £27.7m a year earlier.

Revenue from continuing operations rose three per cent to £361.7m. Spend per customer visit rose about five per cent at Rank’s London casinos, helping revenue grow nine per cent during the six months.

Across the group, spend per customer rose 2.2 per cent to £47.19.

Revenue at Grosvenor casinos, which offers roulette, blackjack, baccarat and poker, rose six per cent to £205.6m.

Grosvenor is UK’s largest multi-channel casino brand and accounts for about 52 per cent of group revenue, according to Rank’s 2014 annual report. Rank, which is majority owned by Malaysia’s Guoco Group , had 94 Mecca bingo halls and 57 Grosvenor casinos in Britain by the end of October 2014. The company also raised its interim dividend to 1.60p from 1.35p a year earlier.