Rank Group Revenue Declines Offset by Online Gains

Rank Group's bingo hall and casino revenue fell in the last half of 2017, but online gaming offset the losses resulting in a rise in profits for the group. Online revenue was up 16 percent for the half. The new “Luda” halls (l.) are still an unanswered question.

Rank Group Revenue Declines Offset by Online Gains

Mecca Bingo halls and Grosvenor Casinos saw revenue declines for the last half of 2017, but Rank Group’s gains in online gambling still led to a rise in profits.

Online channels were up 16 percent in the six months, allowing operating profit to increase 56 percent to £11.4million. Land-based venues were down 1 percent.

Rank Group opened three new “Luda” venues last year. Progress at the Luda hall opened in Walsall last year was ‘below expectations’, Rank said, adding it was too soon to judge how the venues opened in Weston-Super-Mare and Leeds had fared so far.

The venues include a coffee shop and bar as well as bingo games, slots and arcade games in town and city centers.

Rank is expanding its internet offering with the launch of bellacasino.com, a slots-led digital casino brand, in February. Luda.com, set to complement the new Luda venues, will be launched later in 2018.