DOCSLIB.ORG

Entertaining People

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Entertaining People THE RANK GROUP PLC Entertaining people The Rank Group Plc Annual Report and Financial Statements 2010 CONTENTS Group overview Our businesses IFC Our markets IFC Our performance 1 Entertainment – it’s Entertaining people since 1937 2 Chairman’s statement 3 something our people have been doing for Business review Chief executive’s review 5 almost three-quarters – State of play 7 of a century. – Strategic overview 9 Operating review 14 – Bingo 14 – Casino 20 See overleaf for an overview – Remote gaming and betting 27 of our businesses Operating responsibly 30 Finance review 34 Tax fact file 38 Governance Board of directors 42 Corporate governance 44 Remuneration report 56 Statutory reports and financial statements Independent auditors’ report 66 Group income statement 67 Group statement of comprehensive income 68 Balance sheets 69 Statements of changes in equity 70 Statements of cash flow 71 Notes to the financial statements 72 Other information Five year review 118 Shareholder information 119 Our games 120 Glossary IBC The Group overview, Business review and Governance sections make up the Directors’ Report in accordance with the Companies Act 2006. Directors’ report: Group overview OUR BUSINESSES Rank is a leading European gaming-based entertainment company, headquartered in Great Britain and listed on the London Stock Exchange. Mecca Bingo Top Rank España Grosvenor Casinos Rank Interactive Mecca Bingo provides Top Rank España delivers Grosvenor Casinos provides Rank Interactive distributes social, community-focused gaming-based entertainment entertainment based around and markets Rank’s brands gaming-based entertainment to the Spanish market. casino table games and via remote (online and in more than one hundred high prize gaming machines mobile) media, principally venues across Great Britain. in venues across Great Britain to customers in Great Britain. The brand holds particular and in Belgium. The brand appeal for women. is most popular with male customers but is becoming increasingly attractive to women too. Revenue* Revenue Revenue* Revenue* £234.5m £37.0m £238.6m £57.7m Operating profit** Operating profit** Operating profit** Operating profit £29.7m £6.8m £36.0m £7.9m Market positions Market positions Market positions Market positions – 103 licensed bingo clubs – 11 licensed bingo clubs in – 35*** licensed casinos in – meccabingo.com is one of the in Great Britain Madrid, Catalonia, Andalucia Great Britain most popular online bingo and Galicia brands in Great Britain – Headquartered in – 2 licensed casinos in Belgium Maidenhead, England – Headquartered in – Based in Alderney, – Headquartered in Barcelona, Spain Channel Islands Maidenhead, England Customer numbers Customer numbers Customer numbers Customer numbers 911,000 331,000 1,131,000 261,000 Key achievements Key achievements Key achievements Key achievements – Increase in customers – Revenue and profit growth in – Exceeded one million – Sustained revenue growth difficult market conditions customers for first time from meccabingo.com – Strong improvement in customer satisfaction score – Increase in customers and – Extensive programme – Increase in customers customer visits of estate modernisation – Growth in customer referrals – Preparation for launch to meccabingo.com – Significant growth in revenue to Spanish market in 2011 and operating profit * Before adjustment for the free bets, promotions and customer bonuses. ** Before exceptional items. *** At 31 December 2010, Grosvenor operated 35 casino venues in Great Britain, incorporating 36 operating licences. OUR MARKETS Rank entertains across a portfolio of leisure venues and via online and mobile media. OUR VENUES Great Britain Mecca Bingo: Grosvenor Casinos: Key: Mecca Bingo: 103 clubs 35 casinos* Grosvenor Casinos: 8,157 employees Spain Top Rank España: 11 clubs 590 employees Belgium Grosvenor Casinos: 2 clubs 190 employees * 35 venues incorporating 36 licences. Employee numbers based on averages for 2010. OUR BRANDS Gaming-based entertainment, delivered across multiple channels We have developed a portfolio of brands to meet the gaming and entertainment needs of a wide range of customers and a variety of occasions. Mecca Bingo Grosvenor Casinos Blue Square Top Rank España Venues – Online – – Distribution Mobile Directors’ report: Group overview OUR PERFORMANCE During 2010, Rank recorded another year of growth in adjusted earnings per share, driven by continued operational improvements and further debt reduction. Revenue* (£m) £567.8m Operating profit** (£m) £62.0m 07 534.4 07 68.3 08 522.2 08 60.3 09 540.0 09 58.0 10 567.8 10 62.0 Statutory revenue (£m) £544.5m EBITDA*** (£m) £92.3m 07 511.0 07 96.8 08 505.4 08 86.6 09 520.5 09 83.9 10 544.5 10 92.3 Adjusted profit before tax (£m)**** £55.2m Net debt (£m) £123.4m 07 46.2 07 316.9 08 40.5 08 226.5 09 48.5 09 186.8 10 55.2 10 123.4 Adjusted earnings per share (p) 10.2p Dividend per share (p) 2.4p 07 7.4 07 2.0 08 7.3 08 Nil 09 8.9 09 1.35 10 10.2 10 2.4 Net promoter score (%) 38.0% Operating margin (%) 10.9% 09 37.0 07 12.8 10 38.0 08 11.5 Net promoter score measures a customer’s propensity to recommend our brands. 09 10.7 It is calculated by subtracting negative scores from positive scores with the difference expressed as a percentage of the whole. 10 10.9 * Before adjustment for free bets, promotions and customer bonuses. **** Adjusted profit before taxation is calculated by adjusting profit from continuing ** Before exceptional items. operations before taxation to exclude exceptional items, the unwinding of discount *** Group EBITDA before exceptional items is Group operating profit before depreciation in disposal provisions, other financial gains or losses and the amortisation of the equity and amortisation. component of the convertible bond. Note: All references in this report to ‘like-for-like’ exclude club openings and closures as well as changes to gaming taxation. The Rank Group Plc: Annual report and financial statements 2010 1 Directors’ report: Group overview ENTERTAINING PEOPLE SINCE 1937 The iconic Rank ‘gong man’ symbolises the spirit of entertainment. In 2011, as we prepare to celebrate our 75th birthday, the desire to entertain is the common impulse that unites all of our people. Entertaining history Entertaining brands The Rank Organisation was established in 1937 by J Arthur During its history, Rank has presided over some of the world’s Rank (later Lord Rank) in Britain’s motion pictures industry best known entertainment brands, from the globally cool Hard and in time expanded into other forms of entertainment. Rock Café and Hard Rock Casino to enduring British favourites Over the years, Rank has been involved in a wide variety like Odeon Cinemas and Butlin’s Holiday Camps. As a major of leisure retail and manufacturing activities, including cinemas, player in the British film industry from the 1930s to the 1970s, holiday camps, theme parks, pubs, clubs, restaurants, hotels, Rank has been associated with the development of a number photocopier manufacture, film production and distribution of world famous third-party brands, including the ‘James Bond’ and in-home entertainment (TV, radio and popular music). and ‘Carry On’ motion picture franchises. The desire to entertain beats through Rank’s long and varied Even today, several decades after the Rank Organisation made corporate history. It is felt as keenly today in our Mecca Bingo, its final movie, the Group’s ‘gong-man’ logo is among the most Grosvenor Casinos, Top Rank España and Blue Square brands as evocative images of entertainment in Great Britain. it was 74 years ago. The development of loved and trusted brands remains central to Rank’s approach to entertaining its customers. Entertaining games Entertaining people Rank moved into the gaming industry in 1961, when a number Throughout almost three-quarters of a century, our people have of its cinemas started providing games of bingo (which had just sought to fulfil the human need for entertainment. been legalised under the 1960 Betting and Gaming Act) between The roll-call of those who have brought joy to our lives under screenings. The growing popularity of the game and a nationwide the Rank name includes film directors Sir David Lean, Michael decline in the level of cinema attendances prompted the company Powell and Sir Alfred Hitchcock; and actors and movie stars, Sir to shift the focus of operations in many clubs from movies to Laurence Olivier, Sir Michael Caine and Kenneth Williams. The bingo and in time to establish dedicated bingo clubs under the Beatles and Bob Dylan were amongst the artists who performed at Top Rank brand (which was replaced by Mecca Bingo following Rank venues in the 1960s; whilst The Who and Bruce Springsteen its acquisition in 1990). are just two of the internationally acclaimed acts who helped Hard Having established itself as one of the largest bingo businesses Rock entertain the world, under Rank’s ownership of the brand. in Great Britain, Rank moved into the casinos sector in 1990; and We remain proud of our heritage and true to our founding in 2003 the company invested in the growing remote gaming spirit of entertainment. and betting sector via the acquisition of Blue Square. Following the sale of the Hard Rock brand in 2007, Rank emerged as a focused gaming-based entertainment business. 2 The Rank Group Plc: Annual report and financial statements 2010 Directors’ report: Chairman’s statement OUR PROGRESS OVER THE YEAR “ Our most important strength is the ability of our people to bring enjoyment to others. At Rank we have been doing this for nearly three-quarters of a century.” Peter Johnson chairman 24 February 2011 During 2010, Rank recorded a further year of Our performance – customers progress, delivering strong growth in earnings Our commercial performance is predicated on our ability to and dividend per share through improved delight and to entertain the 2.5 million customers that we serve across our businesses.
Load more

Recommended publications
  • The Rank Group Plc
    Annual Report and Financial Statements 2009 The Rank Group Plc A new perspective on gaming Inside: – The customer experience: A 360 o perspective – Mecca Full House: So much more – G Casino: One amazing venue Contents DIRECTORS’ REPORT Overview 1 Group highlights 2 Group overview 4 Chairman’s statement DIRECTORS’ REPORT Business review A 6 Chief executive’s review 7 Market review 8 Strategy 14 Risk management 16 Bingo 22 Casinos 28 Interactive Our aim is to create 30 Operating responsibly 35 Finance review fun and enjoyment 38 Tax fact file for our customers DIRECTORS’ REPORT through gaming-based Governance B leisure experiences. 40 Board of directors 42 Corporate governance 46 Accountability and audit Our approach is 48 Remuneration report underpinned by our 55 Other statutory information business principles: Statutory reports and • fairness C financial statements • responsibility 58 Independent Auditors’ report 59 Group income statement • and sustainability 59 Group statement of comprehensive income 60 Balance sheets 61 Statement of changes in equity 62 Cash flow statements 63 Notes to the financial statements Other information D 106 Five year review 107 Shareholder information 108 Glossary DIRECTORS’ REPORT: GROUP HIGHLIGHTS How we have performed – Operating highlights – Revenue* (£m) Operating profit** (£m) – Resilient performance £540.0m £58.0m in challenging REVENUE OPERATING PROFIT market conditions 2008: £522.2m 2008: £60.3m – Significant growth in adjusted earnings per share 68.3 534.4 540.0 522.2 – Step-up in capital investment 60.3
    [Show full text]
  • GUOCO GROUP LIMITED Please Refer to the Attached Announcement
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. GUOCO GROUP LIMITED (Incorporated in Bermuda with limited liability) (Stock Code: 53) OVERSEAS REGULATORY ANNOUNCEMENT (This overseas regulatory announcement is issued pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.) Please refer to the attached announcement on the next page. The board of directors of Guoco Group Limited currently comprises Mr. Quek Leng Chan as Executive Chairman; Mr. Kwek Leng Hai as President, CEO; Mr. Tan Lim Heng and Mr. Ding Wai Chuen as executive directors; Mr. Kwek Leng San as non-executive director and Mr. Sat Pal Khattar, Mr. Volker Stoeckel and Mr. Roderic N. A. Sage as independent non-executive directors. 12 May 2012 The Rank Group Plc (“Rank” or the “Company”) Proposed acquisition of Gala Casinos Limited (“Gala Casinos”) Rank announces that it has conditionally agreed to acquire Gala Casinos from Gala Coral Group Limited (“Gala Coral Group”) for a total cash consideration of £205 million (the “Acquisition”). The Acquisition includes 23 casinos in Great Britain and three non-operating licences. Gala Coral Group’s casinos in Dundee and Gibraltar, its non-operating licence for the City of Westminster (London) and all of the central management functions previously associated with Gala Casinos are not included in the scope of the Acquisition.
    [Show full text]
  • Annual Report and Financial Statements 2019
    Annual Report and Financial Statements 2019 Strategic report Group KPIs 6 Chair’s letter 8 Business model 12 Chief Executive’s Q&A 14 Stakeholder engagement 17 Understanding our market 18 Market review 20 Our strategy 21 Our strategic progress 22 Creating fantastic experiences for our customers is why we come to Operating responsibly work every day. Operating responsibly 26 We are a values-led business, and our STARS values of service, teamwork, ambition, responsibility, and solutions – are what leads us to strive every day to improve our business, and ensure that we are fulfilling Operating review our stakeholders' needs. Operating review 34 Grosvenor Casinos Our commitment to working hard for our Operating review Mecca 36 Operating review International 38 customers and stakeholders is what we Operating review Digital 40 mean by ‘Our work, your play’. Financial review 42 Tax fact file 44 Non-financial information statement 47 Risk management 48 Governance Chair’s introduction 54 Board of directors 56 Corporate governance 60 Directors’ remuneration report 76 Directors’ report 95 Directors’ responsibilities 99 Financial statements Independent auditor’s report 102 Group income statement 110 Group statement of 111 comprehensive income Balance sheets 112 Statements of changes in equity 113 Statements of cash flow 114 Notes to the financial statements 115 Unaudited appendix to the financial 157 statements: Five year review Other information: 158 Shareholder information Our purpose working together to create exciting environments that reflect the changing needs and expectations of our customers and colleagues, delivering stimulating and entertaining experiences every time, To Excite and To Entertain. Our ambition to become a £1bn revenue international gaming company by 2023, through transforming our business and consistently exceeding our customer and shareholder expectations.
    [Show full text]
  • The Rank Group Plc Annual Report and Financial Statements 2013 the Rank Group Plc Annual Report and Financial Statements 2013
    The Rank Group Plc The Rank Group Plc Annual Report and Financial Statements 2013 Annual Report and Financial Statements 2013 the rank group experience contents Directors’ report Performance highlights 2 Group overview 4 Chairman and chief executive’s review 8 Business model 12 Strategic update 13 Operating review Grosvenor Casinos 20 Mecca 26 Enracha 30 Operating responsibly 33 Financial review 40 Tax fact file 43 Governance Board of directors 48 Management team 50 Corporate governance 51 Remuneration report 66 Financial statements Independent auditor’s report 76 Group income statement 77 Group statement of comprehensive income 78 Balance sheets 79 Statements of changes in equity 80 Statements of cash flow 81 Notes to the financial statements 82 Unaudited appendix to the financial statements Unaudited financial statements 134 Five year review 142 Other information Shareholder information 143 Glossary 144 The rank group presents The Group has been entertaining Britain since 1937, from its origins in motion pictures to today’s gaming based entertainment brands. The Group has remained true to its founding mission to make life better by bringing people together for fun and entertainment. In this the Group applies a moral code, focused on values of fairness and a belief in ‘the right thing to do’. Over the course of more than three-quarters of a century, the Group has thrilled many millions of customers in Britain and around the world. The Group’s story is one of iconic brands and talented people with a mission to entertain. For more information please visit www.rank.com Directors’DIRECTORs’ reportRePORT PERFORMANCE HIGHLIGHTS: 12-MONTH PERIOD 1 JULy 2012 – 30 JUNE 2013 performance highlights Delivering solid performance The charts illustrate the Group’s Revenue1 (£m) Statutory performance for the 12-month revenue (£m) periods to 30 June over the last four years.
    [Show full text]
  • Annual Report and Financial Statements 2020 the Rank Group Plc
    Annual Report and Financial Statements 2020 Annual Report and Financial Statements 2020 The Rank Group Plc Strategic report Governance At a glance 2 Chair’s introduction 78 Our strategy 4 Governance team 80 KPIs 6 Corporate governance 82 Chair’s letter 8 Nominations committee report 92 Chief executive’s review 9 Audit committee report 95 Chief executive’s Q&A 13 Safer gambling committee report 102 Business model 18 Directors’ remuneration report 105 Stakeholder engagement 20 Directors’ report 127 Market review 24 Directors’ responsibilities 131 Our strategy 30 Financial statements Operating review Independent auditors report 132 Operating review – Digital 36 Group income statement 144 Operating review – Grosvenor Casinos 38 Group statement of Operating review – Mecca 40 comprehensive income 145 Operating review – International 41 Balance sheets 146 Operating responsibly 44 Statements of changes in equity 147 Financial review 60 Statements of cash flow 148 Alternative performance measures 62 Notes to the financial statements 149 Tax fact file 64 Unaudited appendix to the Risk management 68 financial statements: Section 172 and Non-financial Five year review 203 information statements 77 Other information: Shareholder information 204 Gemma Aylen, Grosvenor Tess McDonnell, manager, raised over Grosvenor kitchen Paul McGlinchey, Mecca £2,700 to support unpaid Dató Edward Rumly, assistant, helped cook general manager, helped carers during lockdown Grosvenor head chef, kept free meals for our deliver care packages our furloughed colleagues
    [Show full text]
  • Rank/Gala Merger Report
    The Rank Group Plc/Gala Coral Group A report on the anticipated acquisition by The Rank Group Plc of Gala Casinos Limited 19 February 2013 Competition Commission 2013 Website: www.competition-commission.org.uk Members of the Competition Commission who conducted this inquiry Martin Cave (Chairman of the Group) John Cubbin Peter Jones Richard Taylor Chief Executive and Secretary of the Competition Commission David Saunders The Competition Commission has excluded from this published version of the final report information which the Inquiry Group considers should be excluded having regard to the three considerations set out in section 244 of the Enterprise Act 2002 (specified information: considerations relevant to disclosure). The omissions are indicated by []. Some numbers have been replaced by a range. These are shown in square brackets. Contents Page Summary .............................................................................................................................. 3 Findings ................................................................................................................................ 8 1. The reference ................................................................................................................... 8 2. The companies ................................................................................................................. 8 The Rank Group Plc ......................................................................................................... 8 Guoco Group Ltd .............................................................................................................
    [Show full text]
  • To Excite and to Entertain
    ANNUAL REPORT AND FINANCIAL STATEMENTS 2018 TO EXCITE AND TO ENTERTAIN RANK GROUP PLC ANNUAL REPORT AND FINANCIAL STATEMENTS 2018 Contents About Rank Strategic Report We operate three established gaming brands: Mecca, Group KPIs 10 Grosvenor Casinos and Chairman’s letter 12 Business model 16 Enracha, and the recently Chief Executive’s Q&A 18 acquired YoBingo. Market review 21 During the year we launched Our strategy and KPIs 24 a new online brand Bella Operating responsibly 28 Casino and opened three Operating review 34 new experimental high street Financial performance 39 venues under the Luda brand. Risk management 42 Principal risks and uncertainties 44 Rank’s retail businesses Tax fact file 47 operate through 149 venues in Great Britain, Governance Spain and Belgium. Board of directors 54 Corporate governance 56 Rank also operates Directors’ remuneration report 76 complementary digital offers Directors’ report 95 under its UK, Alderney and Directors’ responsibilities 99 Spanish gambling licences. Financial statements In the markets where we Independent auditor’s report 102 operate, Rank is one of the Group income statement 110 few gaming companies able to Group statement of 111 offer a genuine multi-channel comprehensive income gaming proposition. Balance sheets 112 Statements of changes in equity 113 Statements of cash flow 114 Notes to the financial 115 statements Unaudited appendix to the financial statements Five year review 154 Other information Shareholder information 155 Group brands at a glance delivering through our brands Our brands 2 3 1 contribution to group revenue Operating profi t EBITDA £741.1m £104.6m £144.3m grosvenor 373.0 grosvenor 48.6 grosvenor 70.6 Mecca 208.1 Mecca 28.6 Mecca 40.2 UK digital 122.5 UK digital 20.9 UK digital 25.1 meccabingo.com 75.0 grosvenorcasinos.com 47.5 Enracha And Enracha And yobingo 6.5 yobingo 8.4 Enracha And yobingo 37.5 1.
    [Show full text]