Rank
Expects Profits Down
As reported by Reuters: "Leisure
conglomerate Rank said on Tuesday that profit
for 2005 would be down slightly and said it
had chosen a preferred bidder to buy each of
its Deluxe units.
"Rank's
(RNK.L) shares fell 1.9 percent to 303 pence
and analysts dismissed Rank's assurance of progress
in the Deluxe talks.
"…Bingo
revenues from its Mecca UK chain are flat so
far this year, with a 6 percent drop in the
number of customers offset by a 6 percent rise
in the amount each one spends.
"…Rank
said revenue from its Grosvenor Casinos was
up 3 percent in the year-to-date, and it was
pushing for four more casino licenses before
new government gaming laws come into effect
next April, having already won six this year…"
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