Gaming and leisure group Rank continues to enjoy significant success, with five per cent like-for-like revenue growth for the 18 weeks to May 6, 2012.
Total revenue for the group was up four per cent for the period. Its Grosvenor Casinos and Rank Interactive arms once again proved the most lucrative, with revenue up eight per cent and 17 per cent respectively.
Rank’s casinos experienced a two per cent improvement in customer visits and a six per cent increase in spend per visit. Its Belgian casinos, however, saw a reduction in customer visits, which was largely blamed on an extension to the country’s smoking ban.
"I am pleased that the group continues to achieve solid revenue growth despite a challenging trading environment,” said Ian Burke, Rank’s chairman. “In the period, the group's UK businesses have continued to invest in programmes that will broaden the appeal of our brands.”
In the wake of the Budget, the company said that the UK government’s decision to implement a machine games duty from February next year and an increase in casino gaming duty in light of inflation will not have a material effect on its operating profit.
“We remain convinced that a fair tax regime which supports UK jobs and stimulates local economies can only be achieved by introducing a single rate of tax for all products governed by the Gambling Act," added Burke.
