Rank Group is the owner of the Bingo room in Mecca. Massive losses reported after UK lockdown had to be done The group, which owns casino chain Grosvenor, lost 72 million pounds in the year to the end of June, down from a profit of 9.4 million pounds last year.Net gaming revenue fell 48% to £329.6 million, compared with £629.7 million.But trading since reopening has been "encouraging" and is likely to get even better when tourists return, the report said.Chief Executive John O'Reilly described this year as "Extremely challenging" and said: "Frankly, we're delighted it's over.
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However, he added that “Now we are entering a new financial year. By our location open and trading positively.Our facility is performing better than we expected after the easing of restrictions in the UK services sector on 17 May and we expect further growth as travel restrictions finally ease. down and tourism returns. especially in London.Grosvenor casino revenue in the 13 weeks to August 15 was down 19% at the same time in 2019 before the epidemic, while the bingo mecca dropped 21%.The rankings say that 79% of the group's revenue comes from locations rather than playing online games.
The government shutdown in response to the pandemic amounted to 59% of available business days. with capacity constraints reduced opening hours and other restrictions during the year had a significant impact on the group.The group lost 15 million pounds a month. This is net of government support through work breaks and business rate easing. At the peak of the pandemic However, Mr O'Reilly said the group "There was strong revenue and profit growth before the pandemic.The steps taken in the past 18 months will enable the group to "Back on that path of growth. as the impact of the pandemic has diminished and consumer confidence for indoor leisure experiences has increased.”
