fox news – Bingo halls and casinos drag down owner revenue



fox news – Bingo halls and casinos drag down owner revenue
Mecca Bingo halls and Grosvenor Casinos have been hit by the squeezed pockets of Britons who have chosen to stay in and gamble online rather than splash the cash on an evening out.Online takings helped power a rise in pre-tax profit for the Rank Group, the operator of Mecca and Grosvenor, in the last six months of 2017 with revenue from online channels up 16 per cent in the six months to December 31 last year.Operating profit soared as result, up 56 per cent to £11.4million.Its venues were a drag on performance, with the tough high street environment blamed for a 1 per cent fall in revenues on a like-for-like basis.It seems even the casino industry is not immune to the pressures facing Britons as higher inflation and subdued wage rises leave them with less money to spend.The struggle at physical venues for the Rank Group continued with the opening of three new ‘Luda’ venues – a bingo-led high street gaming venue – its results revealed.Progress at the Luda hall opened in Walsall last year was ‘below expectations’, Rank said, adding it was too soon to judge how the venues opened in Weston-Super-Mare and Leeds had fared so far.The new ‘modern’ venues include a coffee shop and bar as well as bingo games, slots and arcade games in town and city centres.With online powering performance, Rank has set its sights on expanding its internet offering with the launch of bellacasino.com, a slots-led digital casino brand, in February.Luda.com, set to complement the new Luda venues, will be
Source:
http://www.dailymail.co.uk/money/markets/article-5339849/Bingo-halls-casinos-drag-owner-revenue.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490

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