Rank boosted by casinos and web

BINGO hall and casino operator Rank Group said yesterday strong sales at its Grosvenor Casinos and Rank Interactive units underpinned an “encouraging” start to 2010, and it was confident on its full-year prospects.

Rank added that its Mecca Bingo chain had recovered from the effects of cold weather in January, and Top Rank Espana had shown modest growth in spite of the weak economic environment in Spain

Like-for-like sales growth in group revenue for the 16 weeks to 18 April was four per cent, on a 10 per cent rise in total group revenue.

“The group has made a positive start to the year with revenue growth in each of its four businesses... [and] remains confident in the full-year prospects for the group and in its longer term growth strategy,” Rank said.

In February, Rank, which has 34 casinos and 103 bingo clubs in Britain, reinstated its dividend after posting a forecast-beating rise in full-year pre-tax profit.