I HOPE THIS WORKS!!!!!
If you buy a Factory or a House it always has a value! Buy an online gaming Co could have NO residual value if it fails.
as always DYOR
The Board of The Rank Group Plc ('Rank') is pleased to announce that Rank has acquired the entire issued share capital of QSB Gaming Limited ('QSB'), owner of YoBingo.es, a leading Spanish digital bingo business for an initial consideration of 21 million and, subject to future performance, up to a maximum consideration of 52 million in cash (the 'Acquisition').
· Secures a strong digital bingo and casino presence in Spain, a high growth regulated digital gaming market;
· Top 2 online bingo operator in Spain with a greater than 30% bingo market share and over 5% slots market share;
· Provides Rank with a proprietary platform including online bingo, roulette and video bingo content for the Spanish market with strong potential to support other regulated markets;
· Provides a brand with strong national recognition in Spain;
· Accelerates the multi-channel strategy of Rank's established Spanish brand, Enracha; and
· Deepens Rank's commitment to the Spanish gaming market.
· For the year ended 31 December 2017, QSB and its subsidiaries (the 'YoBingo Group') generated revenue and EBIT of 10.4 million and 2.5 million respectively;
· Total purchase enterprise value of up to 52 million; and
The £79m you quote for last year was pre tax profit, they are saying operating profit for this year will be £76-78m which means PTP this year will nearer £72-4m, a drop of nearly 10%. They also said they were cautious about next year which means profits might fall again so maybe the 15% reaction is understandable.
The Rank Group Plc (LSE: RNK) (Rank or the Group) announces the following trading update for the 40 weeks to 1 April 2018.
Rank today announces Group* like-for-like revenue for the 13 weeks to 1 April 2018 has declined by 2%. On a divisional basis, Mecca's venues revenue fell by 2%, Grosvenor's venues revenues fell by 9% and UK digital revenue grew by 17%.
Like-for-like revenue for the 13 weeks to 1 April 2018
Like-for-like revenue for the 40 weeks to 1 April 2018
Grosvenor Casinos venues
Rank's digital business continues to trade strongly. Following the Group's 2017/18 interim results statement, both UK venues businesses have been impacted by weaker than expected visits which have been compounded by two periods of cold weather. Grosvenor Casinos' underperformance has also been exacerbated by a negative contribution from its VIP players.
The Board is cautious about the UK consumer outlook and as a result expects the Group's UK venues to continue to be impacted for the remainder of the 2017/18 financial year and into 2018/19. As highlighted in Rank's recent interim results statement, a number of key operational actions have been identified and are being put into place to improve Grosvenor's performance over the medium to long term.
Taking all the above into consideration, management now expect the Group's full year operating profit to be in the range of £76m-£78m.
"After a brisk start to the year, the stockmarket took a breather over the summer. But while the index averages have flattened out, many investors still worry that a sharp downturn is around the corner. After a few years of rising prices, there's ..."
"Rank Group ready to push gambling industry consolidation
Rank Group (RNK) wants to be a player in the consolidation of the gambling industry and its results show it is ready to act on the right offer.
Peel Hunt analyst Ivor Jones retained his add recommendation and target price of 292p on the shares, which fell 1.7% to 217.8p yesterday.
Rank management and, we infer, the majority shareholder [Malaysian conglomerate Hong Leong], had made it clear that Rank is open to participating in the consolidation of the sector. [Its] results show that it will be ready when the right offer comes along, he said.
Rank management made a good case for the merger with William Hill and 888 in our opinion. The UK gambling industry is consolidating and getting more competitive. As the big get bigger we believe that life is going to get tougher for the squeezed middle. It was sound strategy to propose taking on debt and execution risk to create scale. "
Read Edison's note on RANK GROUP PLC (RNK), out this morning, by visiting https://www.research-tree.com/company/GB00B1L5QH97
"Ranks 10-month IMS showed a solid performance in its venues and strong growth in Grosvenor digital, an important growth driver for the group. News of softer trading in Mecca digital since the recent platform migration is slightly disappointing, but it is early days and Rank has good organic growth prospects as it moves towards a true multi-channel offering, potentially augmented by acquisitions if the right opportunities arise. Our profit estimates are unchanged and the balance sheet is very strong. The 2016e EV/EBITDA of..."
"RANK GROUPÂ (LSE:RNK) has something happening. By a stunning 1/2p, it has moved into a zone suggesting growth above 179 will lead to 187 with secondary 195p. The share price would require to slither below 145p to destroy confidence for its ..."
Finally beginning to lose pateince with Rank, Doesnt seem to get much above £1.60 and I dont see much action a all.
When I bought them they were a good size holding but now its insignifant so I think I might bite the bullet and finally say so long to Rank!
"LSE:RNK:Rank Group reiterated its blame on the summer heatwave on Friday as it announced a loss in the first half of its financial year with profits at its bingo halls falling. However it said cost-cutting measures will come into fruition during ..."
"Gambling business LSE:RNK:Rank Group will publish a first-quarter trading update on Thursday.Analysts' expectations: "We expect a mixed performance, with a decline in bingo venue like-for-like sales offset by growth in casino venue sales, ..."
"Mecca Bingo owner LSE:RNK:Rank has dropped its Full House revamp programme, launched in 2009, aimed at transforming the image of bingo and attracting younger players after it failed to live up to expectations.Revenue at the leisure company's 97 ..."
Yes, I turned down the £1.50 offer, as I felt this would grow; only to see it drop and fluctuate around £1.25. I am hoping that my initial feelings may be right. My only concern of course is that it still may be taken private, and not sure whether I will gain any value from that?
I thought that boat has left. As I understand it; if they had gained over 75% they would have extended - as they hadn't, they didn't . iii made a mistake with mine and sold them,, but after conversation they restored shares ! although Im sitting here now thinking I may have made a mistake,
I think the share price is going south due to uncertainty over stock holding and direction of the new majority shareholders. I took the 150p option and would like to buy back in just a bit edgy at the moment.
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