Rank's Online Gambling Helps Profit Growth
Published: Thursday, June 28, 2007 Online-Casinos.com
RANK'S ONLINE GAMBLING OPS HELP PROFIT GROWTH
Blue Square turns in a solid performance
Online gambling site Blue Square.com delivered results that made an important contribution to the strong 5 percent growth in operating profit experienced by parent Rank Group during the first half of 2007, Rank reported to the market in a trading statement this week.
Rank recorded strong growth, due in part to a 37 percent gain in revenue at Blue Square, the gambling group revealed. Blue Square showed the best percentage growth in the group by a significant margin, maintaining an impressive performance with continued good returns in both gaming and in sportsbook.
Rank's focus is firmly on gambling following the sale of its film and media units and the Hard Rock restaurant, hotel and casino chain to the Seminole Tribe of Florida for $965 million in March (see previous Online-Casinos.com/InfoPowa reports) .
"Rank has maintained its solid start to the year,'' the company said in the statement. Changes to UK casino taxes and a forthcoming ban on smoking in public spaces in England "...are likely to hold back profit performance'' in the second half, the company reiterated.
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