The big hitters helped operating profits at Grosvenor’s London casinos jump 22% to £34 million, accounting for more than half the Grosvenor chain’s overall operating profit.
The result also more than offset a flat performance outside London, where “the lack of visit growth was disappointing”.
Rank, which also owns the Mecca bingo chain, shrugged off a £6.6 million hit from the Chancellor’s point of consumption tax to post a 19% rise in pre-tax profits to £74.1 million, and hiked the dividend by 24%.
Rank Group owns the Mecca bingo chain
Rank Group
Separately, Bookmaker Coral gave encouragement ahead of its merger with Ladbrokes with an 8% jump in underlying profits to £65.7 million in the 12 weeks to July 4.
Online profits have trebled and the company - along with the rest of the bookmaking industry - has benefited from favourable early football results due to shocks including Arsenal’s defeat by West Ham and Chelsea’s poor start. High-rollers have cost Coral £7.6 million so far this year.
