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Casino news | 'Seismic impact' on Rank's casino empire

The Covid-19 pandemic has had a "seismic impact" on the casino industry, said Rank Group CEO John O’Reilly on releasing severely depleted half-year results. The group NGR was £177.6m compared with £391.8m in the comparative period of 2019/20, a 55 per cent drop. There was an operating loss of £52.9m compared with a profit of £55m and no dividend was proposed for the year. O’Reilly said: “There is no doubt that the impact of the Covid-19 pandemic has been far beyond anything we or an...
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Rank Group records £42m interim loss as Covid drains venue performance

Rank Group records £42m interim loss as Covid drains venue performance Share March 22, 2021 Rank Group Plc has reaffirmed its confidence in being able to navigate the continued challenges that the COVID-19 pandemic has placed on its business . Publishing its H1 2020/2021 interim results for the six months ending 31 December 2020, Rank has recorded underlying group-wide losses of £42 million – representing a 171% swing on 2019/2020 profits of £59 million.  As previously reported, the LSE ...
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Investegate | Company News | Corporate, London Stock Exchange, Regulatory News Headlines Rank's casinos reel from Covid impact

*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any natio...
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Rank's casinos reel from Covid impact | 28 January 2021

28 January 2021 | 09:04am StockMarketWire.com - Casino operator Rank has reported a half year operating loss of £52.9 million pounds, owing to Covid-19 restrictions. The groups half year results reveal net revenue minus prize payments was £177.6 million, a 55% drop from the comparative period of 2019/2020. The ever-changing restrictions, coupled with curfews, which in particular have a seismic impact on our Grosvenor venues, have resulted in an exceptionally challenging first half for the g...
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Push Gaming and Its Thoughtfully Assembled Casino Suite

Push Gaming is a privately held online casino games creator that was formed in 2010, but really began to gather steam a few years ago. The company started out with repurposing land-based gaming content for online play, venturing into a niche that was seriously underdeveloped at the time. Its co-founders – James Marshall (serving as CEO) and Winston Lee (serving as COO) – believed their original operational model was an extremely sound one for a young, cash-strapped business. As the online g...
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