Rank (Mecca Bingo) Expect 2008 to be a Challenge

The operating company for Mecca Bingo Clubs, the Rank Group, has really been through quite some substantial changes this last year. They have endured endless press regarding their ability to stay afloat in an economic climate that has generally been pretty bad overall for all land based bingo operators.

Of course this has not really affected the online version of the game and Mecca Bingo does have online operations but these are obviously not functioning well enough to have kept them out of the mire that they appear to have endured throughout 2007. I reported last week that they had managed to sell their pension fund, to the Goldman Sach subsidiary, Rothesay Life, and this will make a difference to their cash flow. They have also said that 2008 will still be a challenge for them casino and bingo business-wise, but are expecting better stabilisation as they continue to respond to the changing legislative and economic climate, whilst still retaining focus on operations of their long term opportunities for growth within the gaming sector both in online and land based operations.

Presently their online casino and bingo operations are doing exceedingly well and they forecast that there will be much growth within this industrial sector.