Rank Bingo Hall Operator Still Feeling Effects Of Smoking Ban

Rank Group PLC was experiencing a great run of success. They have become the second largest bingo hall operator in the U.K., and their stock was rising.

Then an indoor smoking ban was put in place in the U.K., and other changes in gambling law also occurred.

The result is a drop in sales in the companies bingo halls. The drop in sales, along with the smoking ban, has caused the stock price to drop for Rank.

The most recent drop in stock was the biggest in the past five months. It fell eleven percent. Another reason for the drop could have been the recent speculation that the company may be sold.

"This decline today says to me the market thought talks were maybe closer on a takeover," said an analyst at Jeffries International, William Birch.

Genting has become the major player in gambling in the U.K.. They have been rumored to be interested in taking over Rank. That has been denied, however.

April 3, 2008
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
Submit News!