Bingo! Rank Group net profit with online growth
CYBERSPACE may lack the “legs 11” and “two fat ladies” patter of real-life bingo callers but growing numbers are playing online.
Falling attendances at Mecca venues have been partly offset by a steep rise in digital gaming said owner Rank Group.
The majority of new customers came via mobiles
New chief executive Henry Birch, who yesterday celebrated his 100th day in charge, has targeted online as a key growth area for its Mecca bingo and Grosvenor casinos businesses.
He said: “The perception of bingo is that it is older customers playing in venues but in fact last year the majority of new customers came via mobiles.
The expansion of mobile devices has brought a new customer segment online. A lot are customers who already play at existing venues.”
Group mobile revenues surged by 43 per cent in the year to the end of June, accounting for a quarter of as online revenues making 10 per cent of total income.
Revenues rose 14 per cent to £678million and underlying profi ts rose 4 per cent to £72.4million as lower profits at Mecca were offset by higher earning at Grosvenor, boosted by last year’s takeover of 19 Gala casinos.
The shares rose XXp to Xxp.
