As I mentioned earlier, Rank issued a trading report today that has seen their recent problems continue. Sales and admissions are down, and the near future is described as “challenging.” Share prices dropped slightly, but given the speculation that continues about a take over of the company, the drop was comparatively small given the bad […]
Tag: Rank Group
Malaysian Group Get 10% Share In Rank
News and speculation around Rank continues to grow as the Times reports on a secretive share buy out by the Malaysian group Genting. Genting already have a stake in a number of UK leisure businesses, and their 10% stake in Rank is considered to put them in a place to defend against a take over […]
Rank Shares Drop
Rank’s shares have taken a bit of a tumble to hit their lowest point in almost 20 years. Bloomberg reports that the company behind the Mecca Bingo chain’s shares have slipped 21%. The impact of the smoking ban and the change in gaming machines brought in with the 2005 Gambling Act have contributed to a […]
200 Job Losses For Mecca Bingo
The oncoming smoking ban and decling position of Rank as a Bingo giant will see 200 jobs going across the UK in the Mecca Bingo chain. The 200 job losses are a premptive cut to ofset the UK wide smoking ban that will be coming into effect next year. Once again, I have to moan […]
Rank May Sell Off Prestige Casino
Rank, owners of the Mecca Bingo chain as well as a number of casinos and resturants are in discussion about selling off a prestigious casino from their portfolio – The Clermont Club. According to the article, the London casino is famed for its glamour, and for being a haunt of Lord Lucan. Approaches have been […]
