UK casino operator The Rank Group saw a 7.2 percent decline in earnings at its Grosvenor Casinos chain during a 16-week period ending October 14, the group reported.
Officials blamed a reduction in handle and lower margins from high rollers for a year-on-year dip of 7.2 percent at its 56 casinos in the UK. Sales also fell at Rank’s bingo halls by 5 percent. Earnings across the entire group were down 4.9 percent.
The continued slump in bingo comes as the group has tried marketing to younger players through promotions such as “Bingo Breakfasts” and “Bingo Raves.”
According to casino.org news, the company has issued profit warnings this year and in August reported a 40 percent fall in pre-tax profits for the year to June.
Rank’s online revenue, however, has risen 6.2 percent for the period, but analysts pointed out to the website that Rank Group’s business is dependent on its land-based services.
