Grosvenor Casinos lead the way for Rank Group

Bingo hall and casino operator Rank Group today said strong sales at its Grosvenor Casinos and Rank Interactive arms underpinned an "encouraging" start the year.

Rank said it was confident on its full-year prospects, as like-for-like sales in group revenue for the 16 weeks to April 18 grew 4%, on a 10% rise in total group revenue.

It said its Mecca Bingo chain had recovered from the effects of cold weather in January, and Top Rank Espana had shown modest growth in spite of weak economic environment in Spain.

"The group has made a positive start to the year with revenue growth in each of its four businesses... [and] remains confident in the full-year prospects for the Group and in its longer term growth strategy," Rank said.

In February, Rank, which has 34 casinos and 103 bingo clubs in Britain, reinstated its dividend after posting a forecast-beating rise in full-year pre-tax profit.

Rank also said today that a VAT reclaim of £42 million relating to amusement machines and main stage bingo and a £59.1 million reclaim for interval bingo would be received later in the year, rather than in the first quarter as expected.