Rank Group (LSE:RNK) PLC, which operates Grosvenor Casinos, cut profit expectations for the year due to “softer performance” in its UK venues.
As a result, underlying profit for the year is expected to be approximately £40mln, rather than the previous guidance of £47mln-£55mln.
According to a trading statement, the FTSE 250 company said it had seen an improvement in performance since April, but that this was “considerably” weaker than expected.
Performance was largely impacted by overseas customers returning to London casinos more slowly than expected, softness in visitor numbers across the UK and lower-than-average casino win margin in the fourth quarter so far.