REG - Rank Group PLC - Land-based legislative reforms consultation

RankAnnouncement

16/05/2024 15:45

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RNS Number : 7882O  Rank Group PLC  16 May 2024

LEI: 213800TXKD6XZWOFTE12

16 May 2024

 

The Rank Group Plc ('Rank' or the 'Group')

Publication of the Government's response to the land-based legislative reforms
consultation

Rank welcomes today's publication of the Government's response to the
land-based consultation launched in July 2023.

Today's announcement represents good progress and another important step
closer to the passing of secondary legislation which will enable Rank's
Grosvenor Casinos and Mecca Bingo venues to better meet the needs of our
customers. The legislative process to deliver the land based reforms now
commences with the Government announcing that six regulations will be laid
before Parliament.

The increase in the number of gaming machines permitted in 1968 Act casinos
from the current maximum of 20 per licence to up to 80 machines will result in
Grosvenor Casinos broadly doubling B1 gaming machine numbers from 1,361
currently. We intend to add the first c. 700 machines during FY25, with
further machines being added in the following years in line with property
refurbishments, extensions and relocations.

Sports betting will be permitted in all casinos and we will be introducing
various sports betting concepts in a number of Grosvenor venues.

We welcome the Government's commitment to removing the prohibition on direct
debit card payments on gaming machines, alongside the introduction of
appropriate player protections, and will now work closely with the Gambling
Commission to ensure that customers are able to benefit from this change at
the earliest opportunity.

In land-based bingo, the introduction of a 2:1 ratio in clubs, allowing
operators to site two Category B3 machines for each Category C or D machine,
will enable us to increase our current Category B3 cabinet numbers by c. 500
machines. This change will allow us to gradually remove ageing, reel-based
machines from our Mecca estate. Overall, the Government's policy will enable
us to reduce the number of cabinets across our Mecca estate.

 

John O'Reilly, Chief Executive of The Rank Group Plc said:

"Today's Government response to the land-based consultation is good news for
Rank. Providing the legislation is on the statute books by recess in late
July, we are looking forward to improving the customer proposition in our
venues with a roadmap of investments and improvements in the months and years
that follow. The legislative modernisations cannot come a moment too soon, so
we are pleased with the progress contained in today's announcement."

Ends

 Contacts:
 Rank
 David Williams - corporate affairs             Tel: +44 7976 180 236
 Sarah Powell - investor relations              Tel: +44 1628 504 303

 Media Enquiries:
 FTI Consulting LLP (PR adviser to Rank)
 Edward Bridges                                 Tel: +44 20 3727 1067
 Alex Beagley                                   Tel: +44 20 3727 1045

 

 

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