Rank Group Plc, a betting firm based in the UK has made announcements of the first half of financial results for 2014, with a report stating the increase in revenue.
Some of the financial indicators at the end of December 2013 were:
•The group revenue went up to about 16% making it soar to about 352.4 million pounds
•The profit of the operation went down by almost 14% which made it to about 32.7 million pounds
•EBITDA plummets by about 6% which is about 54.2 million pounds
•The customer base of the group went up to 2.73 million, which raised from last year’s 2.3 million
•The average amount spent by a customer is at about 25.53 pounds
•The crossover from the offline to online players is at about 4%, which raised from previous year’s 3.5%
•Due to a weak performance in trading, the profits are adjusted before the tax down which is from 23% to 27.7 million pounds. Costs have become higher, including the interests due to acquisition financing.
•A huge investment of about 11.9 million pounds in to land casino refurbishing and other new products
•19 land casinos that were acquired from Gala are integrated. It was done in May 2013. These acquisitions resulted with an increase of about 34% revenue in Grosvenor casinos. It now stands at 194.2 million pounds and 28.2 million pounds with a profit increase of 11%