New Apps Increase Rank’s Revenue

After a decrease in player attendance at their land based bingo clubs, Rank, owner of Mecca Bingo, has released its latest financial update proving the success of their new iPad application. It has managed to offset the hit they have taken at their traditional bingo clubs.

Online bingo saw a 19% increase in revenue which can be attributed to the launch of a Mecca app for the iPad.

Rank’s online division, including Blue Square and grosvenorcasinos.com, have also seen an increase in sales with a 17% rise also helped by the launch of 15 new mobile games.

Shares in the company have risen 3% following the update as Rank has indicated that their annual results would be on target.

Ian Burke, the Rank Chairman, said, "I am pleased that the group continues to achieve solid revenue growth despite a challenging trading environment."

James Hollins, an analyst at Investec, Rank’s trading update was "encouraging" and the general growth in sales is "a strong result given wider macro and industry headwinds in its core territories".

He also believes that gaining market share due to online bingo operations will cause the company to show good trading results.

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