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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 any other leisure operator could have imagined or planned for. "The ever-changing restrictions, coupl...

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 gambling group has continued to suffer from the closure and restricted openings of its Grosvenor Cas...

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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 group's 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 group,' Rank Group CEO, John O'Reilly, said. 'There continues to be uncertainty looking ahead, par...

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 gambling industry evolved, so did the supplier’s own course. It began crafting proprietary content ...