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Poker Revenue Down 27 Percent At Rank

Grosvenor Casinos And Blue Square Owner Suffers Poker Revenue Crash

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Poker revenue has fallen by over one quarter at Rank Plc, owner of Grosvenor Casinos and online bookmaker Blue Square.

In the 18 months to the end of June 2012 (Rank changed its accounting dates to bring it in line with major shareholder Guoco Group) poker revenue fell 26.7 percent to £1.1 million from £1.5 million in the previous accounting period.

The company said in its preliminary results statement this was due to “increasing competition in this segment of the market.”

Recently the Grosvenor UK Poker Tour has seen numbers decline in the face of competition from rivals such as Genting.

Overall Rank Interactive the division of Rank Plc which contains Grosvenor and Blue Square saw revenue grow 20.8 percent to £77.7 million in 2011/12 compared to £64.3 million in the previous 18 months.