Rank’s land based bingo operations report fall in turnover

In a report released recently it appears that the effects of the national smoking ban and the forced government cuts in the number of big jackpot slot machines have caused profits to slow down trade for the Rank Group, with turnover for the initial half of 2008 falling by 10%.

Rank operates around 120 land based bingo halls across the UK laying claim to more that 3million members, but the companies land based bingo division, Mecca Bingo have seen its revenues fall 17%.

Bingo industry authorities believe that the decline in profits across land based bingo halls in the UK could be set to continue throughout the remainder of the year.

Rank’s chief executive revealed that the group was "looking into ways to grow the number of our customers by improving the experience of the games and the range of foods and drinks", across its Mecca Bingo divisions.

However the report did offer some good news for Rank Groups revenue despite the downturn in business. The group’s overall profits came in ahead of expectations at £17.6million.

The figures returned a notable improvement in comparison with those for the 2nd half of 20007 in the form of a 5% increase in profits from its internet operations.

The Rank Group incorporates online bingo business www. Meccabingo.com which has managed to sustain continual growth since it was launched in 2005 and continues to go from strength to strength in the world of online bingo.

Many online gaming operators are claiming that online bingo is set to be a definite area of continued and sustained growth for the foreseeable future.

11th August 2008