Trying to offset the decrease in tourists and office workers, gambling group Rank wants its London properties to “get fired up again.”
Revenues at Rank’s eight Grosvenor casino sites in London fell by 60 percent since reopening last month. Venues outside of London have experienced figures 75 percent of pre-coronavirus days. But London’s improvement is critical.
Despite Covid-19 safety measures, including temperature checks and plastic screens, Rank officials have been frustrated by a continued lack of people. While the number of office workers stopping by has risen, consumer confidence remains low, CEO John O’Reilly said.
Rank also owns Mecca Bingo, with 72 of its 77 venues now open after the lockdown and typically achieving 70 percent of prior year revenues with visitor numbers running at 55 percent. The size of bingo halls is better suited for social distancing, according to the Evening Standard.
Underlying profits fell 32 percent to £51.1 million for the 12 months ending June 30. Prior to the pandemic, profits for Grosvenor were up 121 percent.
