Rank Group reports interactive growth despite gaming losses

September 11, 2002

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Rank Group reports interactive growth despite gaming losses

Rank Group's digital gaming arm suffered losses of more than £3 million, according to its half-year financial results.

During the six months to 30 June, Rank Interactive Gaming, which houses online gambling sites Rank.com and HardRock Casino.com, made operational losses of £3.3m. Rank's interactive arm reported revenues of £700,000 in the same period.

Rank.com, launched last November, has more than 60,000 registered users and average weekly stakes of £500,000 are placed with it.

Excluding interactive gaming costs and turnover, revenues for Rank's gaming business rose to £231m, up 10 per cent on the same six-month period last year.

HardRockCasino.com launched in July. Using a licence from the Isle of Man Government in January, the site allows users to play games such as roulette, blackjack and poker. In June, Rank said it planned to push the HardRock site to its 700,000 Grosvenor Casino members.

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Marketing