MARKET REPORT: Investors cash their chips after Grosvenor Casinos sees revenues fall following a series of big wins for high rollers
A stream of wins from high rollers led to a profit warning and disappointing revenue figures from the owner of Grosvenor Casinos.
It was also enough for investors to cash in their chips.
Its owner Rank Group, which also owns Mecca Bingo, joined Topps Tiles, online supermarket Ocado and airline Flybe in blaming the beast from the east for a dip in sales.
Mecca Bingo’s revenue was down 2 per cent in the 13 weeks to April 1, while Grosvenor’s earnings dipped 9 per cent.
As well as blaming the cold snap, Rank also said Grosvenor’s had identified ‘operational actions’ to improve the brand’s... read more
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