Rank bets on 20-somethings to rekindle love of Bingo

RANK Group, the owner of the Mecca bingo chain, will open two new city centre bingo halls in the summer as it aims to capture a new generation.

The smaller clubs – which will operate under a different brand – will target younger gamblers, providing convenient food and drink and offering a departure from traditionally large, out-oftown bingo halls, said Rank’s chief executive, Henry Birch.

Bingo was hit hard by the twin pressures of the smoking ban, which was introduced in England in 2007 and Scotland the year before, and the recession.

Rank had 120 clubs a decade ago, but has 91 today.

But the pastime has undergone a revival after being embraced by twentysomethings.

The FTSE 250 gambling company reported strong revenue growth across its online and traditional platforms in the last half of 2015. Group sales rose by 5pc to £370.1m, while operating profit before exceptional items, including the effects of a new gambling tax, rose by 11pc to £46.1m.

Mecca bingo saw revenues rise by 2pc during the six months to the end of December, with customers spending more per visit.

Revenues from digital gambling platforms, Rank’s “star performer”, grew by 14pc, with Grosvenor Casino sales also rising by 7pc.

The company will increase its interim dividend by 13pc to 1.8p a share, to be paid to investors in March 2016.