Bingo firm calls another tough year

Gaming group Rank today braced investors for another tough year despite signs of improved trading at its Mecca Bingo clubs.

The firm – hit by last year’s smoking bans, restrictions on money-spinning games machines and a consumer slowdown – saw underlying profits fall 7% to £68.3m (€89.3m) in 2007.

Rank expects a “challenging” 2008 but said it saw signs of a “modest improvement” at Mecca, even though like-for-like revenues fell 13.5% in the eight weeks to February 24.