First-half revenue up 13%Operating profit up 55%Full year to be ahead of expectationsCasino and bingo operator Rank Group (RNK) said it expects full-year operating profit to be slightly ahead of market expectations after delivering continued strong momentum in revenue and profit growth in the first half to 31 December 2024.The shares responded positively to the update, rising almost 3% to...

Investors have been braced for changes to online gambling regulations aimed at leveling the playing field between land-based operators and online, but very few were expecting the UK Treasury to raid the whole sector to help the government fund its budget deficit.Share prices fell across the board on Monday (14 Oct) following a report by The Guardian that Rachel Reeves was considering proposals...

Treasury could raise up to £3 billion888-owner Evoke most exposedMagnitude of tax hike uncertainGambling shares were sent reeling after a media report said the government was considering doubling taxes from the sector to raise between £900 million and £3 billion of extra funding.Shares in 888-owner Evoke (EVOK) led the fallers, dropping by 14%, closely followed by Ladbrokes owner Entain...

Full-year operating profit doublesLike-for-like net gaming revenue upCompany returns to dividend listShares in Rank (RNK) gained more than 7% to 75p in morning trading as the casino and bingo operator said it would re-start dividend payments after underlying operating profit for the year to June reached £46.5 million, ahead of analysts' forecasts and more than double prior year's £20.1...

Investors in London were not deterred by continuing concerns of higher for longer US interest rates, as stocks were up heading into the afternoon.The FTSE 100 index was 14.38 points higher, 0.2%, at 7,862.37. The FTSE 250 was up 63.75 points, 0.3%, at 19,403.89. The AIM All-Share was up 0.59 of a point, 0.1%, at 743.71.The Cboe UK 100 was a touch higher at 785.28, the Cboe UK 250 was up 0.1%...

Third quarter revenue up 6%Strong showing in Mecca BingoFull year outlook affirmedCasino and bingo operator Rank (RNK) said like-for-like net gaming revenue for the third quarter to 31 March increased by 6% to £182.3 million, with trading continuing to improve in April.Shares in the Grosvenor Casinos and Mecca Bingo operator increased 2.6% to 72.9p and sit around 4% lower than the start of...

Strong rebound in first half like-for-like revenuesAdjusted operating profit surgesGroup poised to benefit from gambling reformsCasino and bingo operator Rank (RNK) demonstrated continued recovery with 9% like-for-like net gaming revenue growth in the first half to £362.6 million and a big improvement in operating profit to £21.7 million.Investors welcomed the positive update with the shares...

Operating profit at top end of previous guidanceLike-for-like revenue up 16% in first six weeksDividends to restart 'as soon as circumstances permit'Casino and bingo operator Rank (RNK) delivered in-line results for the year to 30 June 2023, with operating profit at the top end of its previously-guided £15 million to £20 million range implying a stronger second-half performance.The Mecca...

Casino and bingo operator Rank (RNK) is trading 72% below pre-pandemic levels, and Shares believes the downside now looks limited while the upside from continued normalisation and the benefits from regulatory change could be significant.Big changes are on the cards for the UK gambling sector following publication of the Government's white paper in April which seeks to deter problem gambling...

Shares in Paddy Power, Betfair and FanDuel owner Flutter Entertainment (FLTR) have gained around 80% over the last year, handsomely outperforming the FTSE 100 and UK gambling peers which have registered losses.Rival Entain (ENT) which operates the Ladbrokes and Foxy Bingo brands has seen its shares lose around 15%, while 888 Holdings (888) shares are down around 70% and bingo and casino...

- 2023 profit expected to halve- Slower than expected recovery at casinos- Recent weakness seen at Mecca BingoCasino and bingo operator Rank Group (RNK) issued a profit warning on Friday sending the shares skidding 9% lower to 73.1p and taking the year's losses to more than 50%.Weaker than expected trading at its Grosvenor casinos flagged in October has continued into the year-end driven by...

- Entain reiterates guidance, sees US EBITDA positive in 2023- World Cup and easier comps going into Q4-Rank disappoints as inflationary pressures riseGlobal sports betting and gaming company Entain (ENT) delivered third quarter net gaming revenues to 30 September in line with expectations.Full year guidance was reiterated, and the company highlighted continued momentum going into the final...

- Gambling Review measures less onerous than feared- Rank directly benefits from increased gambling machines- White paper expected in coming weeksThe long-awaited Gambling Review white paper was leaked to The Times newspaper this week and if proven accurate should provide a lift for a gambling sector that had been expecting more stringent measures.Casino and bingo operator Rank (RNK) and...

- Full-year profit expectations slashed by 22%- Fewer high-spending international visitors to London- Lower footfall across estate Casino and bingo operator Rank Group (RNK) slashed its full-year operating profit forecast by around 22% after weaker than expected trading in the third quarter through March continued into the final few months of its financial year ending 30 June.Rank said it had...

Three key factors look set to dominate the UK gambling sector in the coming years: big global dealmaking; a continued shift towards online gaming and an increased regulatory burden.In this feature we take a closer look at the individual stocks in this space and highlight potential winners and losers.We will focus in particular on Flutter Entertainment (FLTR), Entain (ENT), 888 Holdings (888)...

Casino and bingo operator Rank Group (RNK) provided a sluggish trading update for the third quarter through March 2022, prompting management to downgrade full year profit guidance.Softer than expected trading and increased costs pressures means the company now expects earnings before interest for the year to 30 June 2022 to be in the range of £47 million-to-£55-million, roughly 15% below...

Casino and bingo operator Rank (RNK) experienced a strong rebound in the first half to 31 December as it operated with fewer restrictions allowing it to report an operating profit of £23.7 million compared with a loss of £42 million last year.The company narrowed its guidance range for full-year operating profit to be between £55 million and £65 million, increasing the bottom end by £5...

UK stocks opened higher on Thursday, led by mining companies as commodities prices, notably copper, continued to advance, with Anglo American (AAL), Glencore (GLEN), Antofagasta (ANTO) and Rio Tinto (RIO) all catching a bid early on.By 9 am, the FTSE 100 was trading 0.65% higher at 7,188.22 points, while the FTSE 250 was up 0.7% at 22,793.72.Brent Crude pushed ahead 0.8% to $83.85 per barrel,...

The FTSE 100 traded 0.3% lower at 7,128.39 points on Thursday as investors grappled with Covid concerns as well as fears of a tapering of support for the global economy ahead of the Jackson Hole summit of central bankers.The high-flying FTSE 250 was flat at 23,979.4 points, with the market's second-liners pausing for breath after their stunning recent run.CORPORATE NEWSIn corporate news,...

Equity markets retreated across Europe and parts of Asia on Thursday as investors remained cautious ahead of the US Federal Reserve's annual get-together on Friday where all eyes will be on guidance for when economic stimulus will be tapered. The ongoing spread of Covid infections also continues to act as a dark cloud for investors.The FTSE 100 index fell 0.7% to 7,102, Germany's Dax dropped...