Rank Group Plc (RNK.L), a provider of gaming and betting services, Monday said its total continuing revenue for the 18 weeks to May 5 has grown by 2 percent from the same period last year, including free bets, promotions and customer bonuses. The company also said it completed the acquisition of Gala Casinos.
However, like-for-like revenues dipped 2 percent from last year, excluding the effects of clubs openings, closures, relocations and the impact of Machine Games Duty.
Grosvenor Casinos saw a 1 percent increase in total brand revenue, while like-for-like revenues decreased 5 percent from the corresponding quarter last year. Mecca brand total revenue increased by 2 percent in the 18-week period with a continued good performance from its digital channel. Like-for-like revenues in the Mecca brand were down 1 percent from the same period last year. Enracha's Sterling revenue for the period increased by 1 percent, however in local currency, revenue decreased by 2 percent from last year.
The firm also sold the assets and trademarks of its Blue Square Bet business to Betfair Group plc for 5 million pounds on April 2. Blue Square Bet will be disclosed as a discontinued business in the Group's full year results to June 30, the firm said in a statement.
As a result of the temporary impacts of the abnormal weather during the winter period and a weak London win margin in the last 18 weeks, the Group expects its full year results from continuing businesses, including the contribution from the recently acquired Gala casinos to be marginally below last year.
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