Consultus Review of the Rank Casino Distributor
Rank was still in the process of diversifying to reduce its fiscal dependence on Xerox. Pinewood Studios had merged with Denham to become D & P Studios, while a number of Rank interests, such as bowling alleys and large dance halls, were closed down.
Malta-based Authentic Gaming has secured an agreement with Rank Group Plc that will see the company’s Grosvenor and Mecca bingo brands launch live casino games through this supplier. 아인 카지노 총판
Origins
The Rank Group is a leading gambling company based in the United Kingdom with 139 UK locations across Grosvenor Casinos and Mecca Bingo. The company’s games are independently audited to ensure they are fair and random, making them a good choice for players looking for an honest gaming experience. Originally known as the Rank Organisation, the company has been around for many years and is still in business today. Its brands are some of the most popular in the world. In addition to the casinos, Rank also offers online gaming services. Consultus has worked with the Rank Group for over a decade to help them procure essential utilities in smarter ways, and to manage costs across their estate. 랭크 카지노 총판
Expansions
By the late 1970s, Rank had accumulated a sprawling collection of holdings. The company had 85 bingo parlors, a chain of Hard Rock Cafes, hotels, and a theme park. But these assets had not proved profitable. Moreover, the company had made major investments in other activities, such as a nightclub business and a record label.
In 1988, Rank seemed to be on the mend. All but one of its divisions reported a profit. But the profits from RX were still far greater than those of Rank’s other businesses. This imbalance remained for several years. As a result, Rank’s stock price fell and the company began a major streamlining effort. It began to sell off its non-RX holdings, including the Pinewood Studios and Odeon Cinemas. The remaining business divisions focused on gaming, hard rock, and Deluxe Film and Media Services. It also acquired London’s Park Tower Casino. The company hoped to benefit from deregulation in the UK gambling industry, which was slated to take effect in 2005.
Management changes
Rank continued to expand into a variety of fields but failed to find many profitable nuggets. Bowling alleys and large dance halls were passé by the early 1960s, the record business floundered utterly, and a number of Rank’s hotels and restaurants never came to fruition.
The one bright spot was Xerox, which churned out profits at an alarming rate. By the late 1970s, Xerox was contributing 93 percent of the company’s total profit.
Eventually, investors became so worried about Rank’s fiscal dependency on Xerox that they voted in a new board of directors and appointed gaming industry executive Mike Smith as CEO. Smith began a major streamlining effort to focus Rank on its core businesses of gaming, Hard Rock cafes, hotels and casinos, and Deluxe Film and Media Services. Rank sold off many of its non-core assets, including Odeon Cinemas and Pinewood Studios. By 2000, Rank was an international leisure and entertainment group with three divisions: Gaming; Hard Rock; and Deluxe Film and Media Services.
Acquisitions
As the Rank Organisation continued to expand, it was often difficult to find profitable niches. In the early 1960s, for example, a xerographic business known as RX made profits of $7 million on assets worth twice that much. Eventually, the rest of Rank’s business was so reliant on the success of RX that it garnered only $17 million on its non-xerographic activities.
Nevertheless, the company remained an active investor and acquisitions were a key part of the strategy. In the late 1990s, for instance, Rank bought Odeon Cinemas and Pinewood Studios.
More recently, a Malta-based live casino provider called Authentic Gaming entered an agreement to provide its games to Rank Group’s Grosvenor Casino and Mecca Bingo brands. This was a big move for the company that saw its reach expand significantly. It would also allow Authentic to tap into the popular Megaways slots category.
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