Grosvenor Casino Profit Warning
Vertical Tabs
- Grosvenor Casino Profit Warning 2019
- Grosvenor Casino Profit Warning Signs
- Grosvenor Casino Profit Warning Template
- Grosvenor Casino Profit Warning Report
Digital acceleration is seen as key for the UK's largest multi-channel casino operator to return to profit, after operating profit slumped 40.7% from €84.5 to €50.1 million, in a challenging year driven principally by a disappointing performance from Grosvenor’s land-based casinos. Revenues for Grosvenor fell by 6.1%, with operating.
- The governance of Rank Group Plc has today issued a corporate profit warning, detailing that its Grosvenor Casino and Mecca Bingo venues have been negatively impacted by adverse UK weather conditions recorded during Q1 2018. Updating the market, Rank details that March’s snowstorm has impacted customer activity/engagement with its UK Grosvenor and Mecca properties.
- One of his luckiest sessions came one December, when Green took a trip to a Mayfair casino. A few hours later, Green had pocketed a mind-boggling £2 million – an amount large enough to trigger a profit warning at the casino.
Caesars launches SG-powered sportsbook in Pennsylvania
NY Gaming Commission sets out sports betting regulations
William Hill faces fall in 2018 profits
Rhode Island Senator files mobile sports betting bill
Rank poaches Experian executive for finance chief role
Jackpot Fortune gets Betsoft gaming boost
Is Luda high street bingo experiment failing the litmus test?
Increased marketing spend leads to 'expected' EBITDA drop for JPJ
Scientific Games settles Shuffle Tech patent case
Gambling expansion leads to $385m boost for Pennsylvania
The Stars Group partners Eldorado Resorts for US expansion
GIG signs content and platform deal with lottery betting start-up
Intralot seals new Nederlandse Loterij supply deal
European lotteries establish liquidity pooling joint venture
LeoVegas reshuffles marketing and communications leadership
PokerStars previews virtual reality poker experience
Football INDEX unveils Legendary commentator as new brand voice
Kindred puts focus on social responsibility with latest sponsorship
Swedish regulator issues final warning to licensed operators
IG highlights client ‘quality’ as ESMA measures hit
GVC outperforms expectations thanks to online gains in 2018
Inspired Entertainment narrows 2018 loss but warns of FOBT impact
UK Chancellor faces Commons rebellion over FOBT stake cut delay
At the Races secures Hong Kong racing broadcast rights
Industry to discuss future of high street bookies at special event
Pub sector begins to show signs of stabilisation after decades of decline
Number Crunching - John Asher, Cherry AB and GIVEMESPORT
Number Crunching - GambleAware, M88 and Efbet
'Excited for the season ahead!': CheckdMedia outlines goals
Grosvenor Casino Profit Warning 2019
ICE London to donate £10,000 to three gaming charities with visitor-led initiative
Meet Dreamtech Gaming at ICE 2019
Meet Emailage at ICE London 2019
The UK's two most prominent operators of five-a-side football pitches are examining a surprise merger that would create a major international leisure player.
Sky News has learnt that stock market-listed Goals Soccer Centres and privately owned Powerleague have been discussing a combination of the two businesses.
It was unclear on Saturday what stage any discussions were at and what the likelihood of an eventual deal was.
A tie-up between Goals and Powerleague, which between them operate roughly 100 sites, would significantly increase their UK presence, as well as bringing under one corporate umbrella their venues in Ireland, the Netherlands and the US.
It was also unclear this weekend whether their substantial combined presence in the UK would trigger any competition issues, or how these might be addressed.
Advertisement
Goals, which was loss-making in 2015, returned to profit last year, and appointed Mark Jones, a former Grosvenor Casinos executive, as its new boss.
It also raised nearly £17m from investors to pay down debt.
More from Business
The company has a market capitalisation of just under £77m.
Powerleague trades from more than 750 football pitches, and also owns Powerplay, a league operator across 240 UK venues.
Grosvenor Casino Profit Warning Signs
In addition to football, it has a multi-sport offering including basketball, dodgeball and netball.
The company was bought by Patron Capital Partners, which focuses on buying businesses with substantial real estate assets, in 2009 in a deal which put an enterprise value on Powerleague of about £80m.
Grosvenor Casino Profit Warning Template
Previously listed on the London stock market, Powerleague has been expected to be put up for sale by Patron for some time.
Grosvenor Casino Profit Warning Report
The structure of a deal between Goals and Powerleague has yet to be finalised, according to insiders.