LEI: 213800TXKD6XZWOFTE12
16 May 2024
The Rank Group Plc ('Rank' or
the 'Group')
Publication of the
Government's response to the land-based legislative reforms
consultation
Rank welcomes today's publication of
the Government's response to the land-based consultation launched
in July 2023.
Today's announcement represents good progress and another important
step closer to the passing of secondary legislation which will
enable Rank's Grosvenor Casinos and Mecca Bingo venues to better
meet the needs of our customers. The legislative process to deliver
the land based reforms now commences with the Government announcing
that six regulations will be laid before
Parliament.
The increase
in the number of gaming machines permitted in 1968 Act casinos from
the current maximum of 20 per licence to up to 80 machines will
result in Grosvenor Casinos broadly doubling B1 gaming machine
numbers from 1,361 currently. We intend to add the first c. 700
machines during FY25, with further machines being added in the
following years in line with property refurbishments, extensions
and relocations.
Sports betting will be permitted in
all casinos and we will be introducing various sports betting
concepts in a number of Grosvenor venues.
We welcome the Government's
commitment to removing the prohibition on direct debit card
payments on gaming machines, alongside the introduction of
appropriate player protections, and will now work closely with the
Gambling Commission to ensure that customers are able to benefit
from this change at the earliest opportunity.
In land-based bingo, the
introduction of a 2:1 ratio in clubs, allowing
operators to site two Category B3 machines for each Category C or D
machine, will enable us to increase our current Category B3 cabinet
numbers by c. 500 machines. This change will allow us to gradually
remove ageing, reel-based machines from our Mecca estate. Overall,
the Government's policy will enable us to reduce the number of
cabinets across our Mecca estate.
John O'Reilly, Chief Executive of The Rank Group Plc
said:
"Today's Government response to the
land-based consultation is good news for Rank. Providing the
legislation is on the statute books by recess in late July, we are
looking forward to improving the customer proposition in our venues
with a roadmap of investments and improvements in the months and
years that follow. The legislative modernisations cannot come a
moment too soon, so we are pleased with the progress contained in
today's announcement."
Ends
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Contacts:
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Rank
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David Williams - corporate
affairs
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Tel: +44 7976 180 236
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Sarah Powell - investor
relations
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Tel: +44 1628 504 303
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Media Enquiries:
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FTI Consulting LLP (PR adviser to
Rank)
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Edward Bridges
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Tel: +44 20 3727 1067
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Alex
Beagley
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Tel: +44 20 3727 1045
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