Revenue rise but drop in profits for Rank

Marketing investment cuts into operating profits

Despite a 10 percent rise in half-year 2010 revenues to GBP27.4 million, UK land and gambling group Rank plc reported a 23 percent decline in operating profit to GBP2.3 million this week.

Management attributed the decline to marketing investment and product development, together with Italian and Spanish market start-up costs of GBP300 000.

Strong performers in the half year to end June were Mecca Bingo and the relaunched Gcasino brand, which continued to show encouraging growth.

Mecca Bingo recorded revenues up 20.7 percent to GBP19.8 million, thanks to bigger marketing investment that included a deal with Britain's Got Talent, a GBP700 000 television advertising campaign and improved cross-selling to customers from Mecca Bingo clubs.

Casino revenue rose 25 percent to GBP3 million, albeit from a low base, mainly as a result of cross-selling the online offering to customers of Rank’s land-based G Casino and Grosvenor Casinos.

Blue Square sportsbook revenues declined 18 percent to GBP3.6 million despite the football World Cup during the latter half of June, reflecting a diversion of marketing spend to MeccaBingo and

Poker operations again produced a lacklustre performance, with revenues down 41 percent to GBP1 million, again a consequence of marketing being diverted, although sector-wide declines in the genre were also a factor.

Live activity feed

Swipe left or right to see more

lcb activities in the last 24 hours

  • 40
    new members
  • 603
    members online
  • 15978
    guests online
  • 95
    new posts
  • 15476
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results