Posted on April 14 2011 by Caitlin Carver

Rank Reports a Return in Fortunes for British Bingo Halls

Rank Group, the largest Bingo Hall and Land Based Casino operator in the Uk, saw a rise in revenues of 2% for the first quarter. The return in fortunes of land-based bingo was one of the contributing factors to the positive figures posted by the company.

Rank Group which holds ownership of such brands as Grosvenor Casino and Mecca Bingo posted its figures Thursday. It stated that revenue in Mecca Bingo halls alone shot up by 4% as players spent more money during each visit.

In increase in online revenues from brands Meccabingo.com and BlueSqCasino.com has also made an impact on the company’s profits. 

Unfortunately, there was bad news that came with this positive revelation. The Spanish branch of Rank Group, called Rank Espana, suffered a 20% downturn in revenue suggesting that bingo in Spain is not livin’ la vida loca. Many feel the introduction of a smoking ban has hit the industry heavily in Spain and unless action is taken, fortunes will not change.

Despite the news from Spain, Rank Group remain confident that the bingo industry is on the up and the company foresees a rewarding future with many people turning back to bingo with its availability online making it more popular than ever. Rank Group also recently received a £154m tax rebate from Her Majesty’s Revenue and Customs which softens the economic blow from Spain and can help the company invest in dealing with the potential problems that the smoking bans in various countries might cause the bingo industry.

Needless to say, Rank Group and others involved in the bingo industry will see the latest figures from Britain as fantastic news and proves that whatever they are doing on British soil is right and can use it as a platform to transform its economic fortunes in other countries such as Spain.
 

< Back to news index



Similar Posts:

Share

Leave a Reply