Revenues And Custom Up At Blue Square
Published: Saturday, September 02, 2006 Online-Casinos.com
REVENUES AND CUSTOM UP AT BLUE SQUARE
Blue Square revenues up 50 percent and active customer numbers rise 12.5 percent to 261 000.
The UK gambling group Rank can be proud of the performance of subsidiary Blue Square this week following the release of its interim results, which saw the company achieving ambitious targets.
Trading since the end of June has been broadly in line with expectations with Blue Square maintaining an impressive growth rate, the group said. Blue Square revenues were up 50 percent on 2005 and active customer numbers had risen 12.5 percent to 261 000.
The company reported that Meccagames.com, which includes a multi-player online bingo product that was relaunched in August has been successful, and Rank expects the integration of Blue Square into its overall gaming division to improve cross-sell and marketing, leading to the launch of a Grosvenor-branded online casino in the second half the year.
The company said the interactive side of the business would be "integrated more closely with Rank Gaming to maximise the developing synergies between our retail and online gaming operations".
Financial highlights included Blue Square revenues of GBP 18.6 million (US$35.4 million), with operating profits of GBP 3.1 million, compared with GBP 300 000 in 2005. Gaming made up GBP 10.2 million of the revenue and sportsbook operations GBP 8.4 million.
Rank group gaming revenues rose to GBP 277 million but saw a 10.6 percent drop in operating profits to GBP 46.5 million due to increased operating costs "and a number of non-recurring charges related to our programme of restructuring", the company said.
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