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Rank profits go up in smoke
GAMING firm Rank Group blamed the smoking ban, as well as changes to gaming regulations for its like-for-like revenues falling eight per cent in the 17 weeks to April 27.
The firm said that the gaming industry is under pressure because of the smoking ban, new gambling laws and a double-tax burden.
But the company said that there had been a "modest improvement" in trading at its Mecca bingo halls, where like-for like revenues slipped 14 per cent, compared with the 17.3 per cent fall seen in the final four months of last year.
It added that it had also been encouraged by the performance of Grosvenor Casinos in the face of a difficult trading time, despite the casino's revenue declining eight per cent on a like-for-like basis.
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Saturday 26 May 2012
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