A decline in revenue was driven by a fall in customer visits
Visitor numbers hit Mecca results
2014-08-18
Reading time 40 seg
(US).- The Rank Group’s bingo business, Mecca, saw revenue slip slightly on the back of fewer customer visits in the year to the end of June. Mecca’s revenue across its venues and digital business decreased three per cent to USD 480 M during the 12-month period, down from USD 494.1 M the year before.
Venues revenue of USD 382.5 M was down two per cent on the previous period. The decline in revenue was principally driven by a fall in customer visits to its venues, Rank said. EBITDA across the Mecca business was down 12 per cent to USD 88.7 M.
Rank said it had undertaken a review of all venues, session by session, and concluded that certain offers were uncompetitive.
Numerous initiatives were subsequently launched, focusing on improving value for money. These included the introduction of lower-priced sessions, a "refer a friend" reward program and new food and beverage promotions.
The company has also received a boost in the form of the halving of bingo duty to 10 per cent.
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