Share values for Rank Bingo increase in spite of 22% bingo tax
It seems like the online bingo industry is one of the few that is not suffering from the current economic conditions. This is mainly because of the continuing popularity of these sites. For instance, the casino portal and online bingo operator, Rank Bingo, reported that its profits had not just increased, but also surpassed forecasted values.
The results showed that regardless of the highly inconvenient 22% online bingo tax, Rank Bingo still had great results. The increase for the Rank group in share value marks the company’s eleventh month high since last September. The company also stated an increase of 40% in its pre-tax profits from last year to this year from £17.6m to £24.7 million.
Chief Executive of the company, Ian Burke said that in spite of the uncertain economic climate, the company has been encouraged by the progress it has made in terms of the groups’ financial position, stronger senior management and enhanced customer propositions made this year. The company reported that its shares had increased by 11.8% and were now valued at 78p.
Rank Bingo has even opened a new successful bingo club in Nottingham. Since the new club has been based on customer feedback, it caters to all their needs.
