Casino News

UK casinos 'no longer declining'

2008-02-29 10:05:54

Casinos in the UK may be about to recover from problems last year, it has been suggested.

Gaming operator Rank claimed that its casinos were no longer declining, while its bingo operations improved, according to Reuters.

The British gambling industry was hit hard last year by the introduction of the smoking ban and an increase in gaming taxes imposed by the government.

Rank was affected particularly badly, leading to reports that it may be forced to accept takeover bids from a number of would-be suitors, including the world's largest casino operator Harrah's Entertainment and Genting - which already owns Stanley casinos.

During 2007, Rank's revenues fell by more than £15 million.

The company's chief executive Ian Burke warned that their may still be difficult times ahead.

"We expect 2008 to be a challenging year for Rank," he remarked.

"Our priority is to overcome the near term issues facing our businesses."