Rank, which owns the Grosvenor Casino brand, generates more than 40 percent of revenues in the capital, a lot of which comes from visitors from Asia and the Middle East.<\/p>\n
Once we get past Ramadan, we expect London to get busy,\u201d <\/strong>Rank Group CEO John O\u2019Reilly said in an earnings call Monday.<\/p><\/blockquote>\nCollectively, Grosvenor Casinos and Rank\u2019s Mecca bingo halls reported a return to an operating profit of \u00a3103 million (US$137 million) in the six months to December 31, compared with a loss of \u00a352.9 million (US$71 million) in the preceding six months. However, that\u2019s still down 39 percent on pre-pandemic figures.<\/p>\n
Rank owns more than 50 casinos across the UK.<\/p>\n
\u2018Uncertainty Remains\u2019<\/strong><\/h2>\n“Whilst the trading environment continues to be challenging, and cost headwinds are applying additional pressure on the hospitality sector, we have proven that with no restrictions, our trading rebounds quickly. Rank is well-positioned to regain the robust revenue and profit growth momentum we had created before the pandemic struck,” O’Reilly said.<\/p>\n
There remains some uncertainty as to how COVID-19 will impact our businesses over the coming months, but we are accelerating our transformation investments and are competitively very well placed to benefit as consumers emerge from the pandemic,” <\/strong>O’Reilly continued.<\/p><\/blockquote>\nWhile infections have continued to fall in most parts of the UK since the early January peak, levels remain high. In England, one in 20 people had the virus in the week to January 22, according to new figures from the UK Office for National Statistics (ONS).<\/p>\n","protected":false},"excerpt":{"rendered":"
The Rank Group, the UK\u2019s largest casino operator, hailed today as a \u201cbig day\u201d for the hospitality sector. That’s as England scrapped almost all of the restrictions that had been in place to combat the omicron variant. As of Thursday, face masks will no longer be mandated in any public space, while the compulsory use […]<\/p>\n","protected":false},"author":36,"featured_media":199460,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81881,18],"tags":[],"acf":[],"yoast_head":"\n
Rank Group Expects Bounce Back as UK COVID Restrictions Removed<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n