The boss of Mecca bingo and Grosvenor casinos said venues were ‘bouncing’ over Christmas – as he sets his sights on a bumper Valentine’s Day.
Rank chief executive John O’Reilly said festive period business was up 15 per cent on the year before.
Work parties boosted trade as did cheap drink deals. ‘Venues were bouncing,’ he said. ‘I think consumers are feeling reasonably good.’
Sales rose 13 per cent to £401.8million in the six months to December 31, as investment in Grosvenor and Mecca apps paid off.
Greg Johnson, equity analyst at Shore Capital, raised his annual profit prediction by £3million to £47million for the year to June 30.
O’Reilly’s optimism comes in contrast to firms that have warned of rising prices and job cuts.
Rank is facing an extra £6million tax bill after Rachel Reeves’s Budget, higher costs and a limit on what customers can stake on slot machines.
But O’Reilly is confident initiatives such as a its Valentine’s Day-themed promotions will pay off for his company.
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