Shares in bingo hall owner Rank Group fall by 15% as profit warning and sliding sales spook investors



Rank Group, the owner of Mecca Bingo and Grosvenor Casinos, has seen its share price fall by nearly 15 per cent today after issuing a warning over its profits.
In the 13 weeks to 1 April, Rank Group suffered a 2 per cent fall in like-for-like sales, with the group now expecting annual operating profits to come in at between £76million to £78million, which is below analyst forecasts of £83million. 
Revenues from Mecca Bingo halls fell by 2 per cent, while across Grosvenor Casino sites, sales dropped by 7 per cent.
Across Rank Group's digital operations, sales increased by 17 per cent, but... read more

 
5 April 2018 in Business, Views: 48
Source: Daily Mail
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