Profits Improve for Land-Based Bingo Halls
Friday, September 27th, 2010
Recently, the land-based bingo industry was under the threat of extinction. The newly increased bingo tax and the ban on smoking had hindered the profits of traditional bingo halls, and operators were left with few options. However, a recent report by The Rank Group indicated that land-based bingo halls are on the upswing yet again.
According to the study, Rank, which owns 103 of the bingo halls across the UK, made over £25 in gross profits. This far exceeds previous estimates of the worth of the online bingo industry. While industry insiders speculated that land-based bingo halls would soon be bankrupt, it seems that they are still a profitable endeavor.
Ian Burke, CEO of Rank, puts his faith in loyal bingo fans, who are not deterred by a few setbacks. “All of our businesses have achieved growth in revenue as a result of increase numbers of customers and customer visits”, he says.
It was previously believed that the smoking ban would cause a decrease in attendance at land-based bingo halls. However, the opposite happened, as attendance increased by more than 10%. In fact, average spending at bingo halls increased by 1.5%.
You must be over 18 years of age to register and to place a bet. The company reserves the right to ask for proof of age from any customer and customer accounts may be suspended until satisfactory proof of age is provided.
St Minver Limited is licensed by the Gibraltar Licensing Authority and regulated by the Gibraltar Regulatory Authority under the 'Gambling Act 2005'.