The world of gambling has always been one that many associate with millions of dollars passing from the public into the hands of the casino operators but just 24 hours after they completed a deal which saw the company become the largest casino operator. Rank Group announced that they were predicting that the company were going to see a shortfall of profits based on previous figures.
According to the reports, Rank announced that they believe that freezing weather conditions and a spell of good luck for a number of London based ‘highrollers’ contributed to the potential shortfall of profits that the group expected to be able to announce at the close of the financial quarter.
Rank Group are owners of a number of large name gambling operators, with Grosvenor Casinos and Mecca Bingo just two of the flagship properties owned within the group but it seems that the lucky streak that the punters were recording was not confined to just the casino arm of the brand, a fall of 7% customers compared to 18 weeks prior.
Revenues that were finally submitted revealed that the group make a profit of £65.5 million from a total of over £600 million in revenue.
Although the reduced income was not as predicted, chief executive Ian Burke said “Unsurprisingly, our venues were affected by the persistent freezing weather conditions” continuing to say that although the profits were down for the quarter, the group “feel our businesses have performed reasonably well.”
With lower profits seeming to be a common report for this quarter, gamblers have grown wary of potential gambling operators that might not be able to honour their losses, so to make sure that you can avoid that in the best way possible, we once again remind you to take the time to read reviews about the possible gambling sites that you may wish to use.
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