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British casino operator issues profit warning

5th Apr 18 10:00 am

Shares slip by 15 per cent after the profit warning

Shares in British casino operator Rank Group slipped almost 15 per cent to 182.8p in morning trading after it said that it expects lower profit for the full year as it remained cautious about consumer outlook in the UK.

The owner of Mecca and Grosvenor Casinos also said like-for-like revenue had declined by 2 per cent for the 13 weeks to 1 April 2018.

“Both UK venues businesses have been impacted by weaker than expected visits which have been compounded by two periods of cold weather,” the group said in a statement.

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