Casino News

Grosvenor revenues dip

2007-12-13 15:24:36

Revenues at Grosvenor dipped following the Gambling Act, which resulted in some 230 high-risk terminals being removed from its casinos.

Until September 1st, revenues remained flat but then dipped by seven per cent. Admissions are also down by five per cent, Bloomberg reports.

The smoking ban, which came into effect in July, has also caused a reduction in per person expenditure.

Ian Rennardson, an analyst at Merrill Lynch in London, told Bloomberg: "Investors will be disappointed by today's news.

"With winter here, it is hard to see any improvement until spring at the earliest."

In related news, Grosvenor Casino in Liverpool is to close because of a rise in gaming duty, which resulted in a loss of £100,000.