Rank Raises the Roof with Revenue Reports
British gambling giants the Rank Group have announced that they expect earnings per share for the whole of 2010 to be “towards the top end of the analysts’ forecasts” following a trading update for the nine weeks up to December 5.
The Kent-based company is the firm behind UK online gambling powerhouses BlueSq.com and MeccaBingo.com as well as the Grosvenor Casino chain and has enjoyed a good financial year in which its total revenues have risen by four percent.
Additionally, the Rank Casino Group revealed that revenues for the first four weeks of 2010 had jumped by seven percent year-on-year, an increase that was primarily driven by continued strong trading in the company’s land-based Grosvenor casinos.
The group reported that their interactive division had witnessed a five percent increase in revenues over the latest nine-week report period, explained by “continued growth from MeccaBingo.com and GCasino.com offsetting weaknesses in sports and poker”.
“Rank has achieved sustained revenues and earnings growth in the year to date despite the difficult economic environment,” read a statement from Rank. “The board is confident that Rank’s customer focus, sustained investment in the quality of its assets and operational momentum have put it in a strong position for the year ahead”.