The second largest casino company in Great Britain, Rank Group Plc, was pleased to report this week that their first-half operating profits ending June 24th saw a strong growth which also lent way to an increase in their share price.
The Maidenhead based corporation saw a rise in their shares by 3.7%, thanks to the increase in revenues. A big portion of the increase came from their online gambling division, Blue Square, which itself achieved a 37% gain revenues. Ranks land based casinos saw a 4% increase this half.
"The statement is more upbeat than we had anticipated,..." reported London’s Investec Securities analyst Matthew Gerard "…highlights continued strong trading at Blue Square and some promising news from bingo."
Because of a smoking ban in Scotland in March 2006, Rank, who owns and operates 115 British Bingo Clubs, went through a bit of slump in the Bingo division. However the report notes that the company is noticing some "early signs of recovery".
In fact, Rank has decided to sell their film and media business and their Hard Rock chains in order to put forth more focus into their gaming divisions. The potential for great gaming revenues in Great Britain is definitely on the rise as the gambling laws in the jurisdiction as loosening.
Rank Group Plc, based in the UK, is one of Europe’s leading gaming businesses. They are listed on the London Stock Exchange. Ranks primary business activities include the operation of casinos and bingo clubs throughout the UK along with complimentary activities in online gaming and bookmaking services.
The core brands within the Rank group include, Mecca Bingo, Grosvenor Casinos, Top Rank Espana and Blue Square (they’re online division).
