Well, following their case of unfair taxation under EU laws on fiscal neutrality, The Rank Group announced it has today received £59.1 million from the UK Government. Initially reports mentioned they expected to get £36 million back from the HMRC, so I’m wondering if the amount they received is for a number of years worth […]
Tag: Rank Group
Improved Sales At Mecca Whilst Gucco Increase Their Stake
Some good news in these times of credit crisis and financial turmoil for Rank. They’ve seen an improvement in sales, with a rise in spending per person of 8%, and better overall sales of 2%. I won’t go into the financials here too much, you can get all the figures and background over at the […]
Bingo News Roundup
Well, as Autumn is almost upon us, and the little ones are back at school, I’ve been caught up launching a site in time for Halloween and catching up with work from over the summer holidays. I’ve got some great new content lined up for the site the next couple of weeks, but more about […]
Rank Profits Down, Guoco And Genting Shareholdings Up
You’ll have to forgive the lateness of this post, I’ve been away the last week, and I’m just clearing out my email backlog when I spotted this story about Rank at the bottom of the stack. It’s over a week old, but of if you haven’t already seen it, then it’s worth noting. There’s a […]
Rank Confirms HMRC To Appeal VAT Ruling
Here’s on appeal case we’ll all be hoping gets thrown out for the good of the industry. In a statement the Rank Group has said the HMRC will appeal against the VAT and Duties Tribunal ruling that would give the company a £36 million VAT rebate. It’s not expected the appeal will be held until […]
Rank Sees Improved Revenues And No More Closures
An interim trading report from Rank has some good news for the company’s future. It’s showing improved trading figures. According to the report, trading was down on the same period as last year (prior to the introduction of the smoking ban) as was expected. On like-for-like sales there was a drop of 14%, admissions down […]
Mecca Bingo Profits Down 8%
The Financial Times have a piece on the Rank Groups profits for last year, that sees the trend of losses continue. Rank chief executive Ian Burke mentions that 2008 will be a “challenging year” for business. As a part of their plan, the group has sold their pension plan to Goldman Sachs, which will free […]
Ladbrokes Out Of Rank Running
I just spotted news from the FT that Ladbrokes have decided against moving into the casino market in the UK, and will not be bidding on any of the 16 licenses for casinos that have come out of the failed super casino plan of the UK government. You might be wondering what this has to […]
Rank, Parlay And Virtue Fusion Takeover News
Well, lots of news the last week around the industry about potential takeovers. Firstly, the FT reports that the Rank Group have another party interested in them, the latest of recent months to declare a major interest in buying the UK group behind the Mecca Bingo chain. The Asia based Guoco currently only have a […]
Duke Chasing Rank
There’s been more movement in the chase for Mecca the last couple of weeks that I’ve yet to catch up with. Just before Christmas, the private equity group Duke Street Capital made an offer to buy Rank. Speculation about a take over at Rank continues, and Duke Street Capital join the list of parties associated […]
