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Disappointing half year for Rank's Interactive Division

Disappointing half year for Rank's Interactive Division

The UK land and Online Gambling group Rank Group plc published its half-year results for the six months ended 30 June 2009 on Friday, with its online division recording an 8 percent decline to GBP 24.9 million (H1 2008: GBP 27 millon). Operating profit fell 14 percent to GBP 3 million (H1 2008: GBP 3.5 million).

Sportsbetting subsidiary Blue Square.com suffered a 43 percent slide in revenues to GBP 4.4 million (H1 2008: GBP 7.7 million, which was attributed to an adverse run of Premiership football results in the UK.

Online bingo operations fared better, with the group's websites growing revenue by 12 percent to GBP 16.4 million (H1 2008: GBP 14.7 million).

However, Internet poker operations remained in the doldrums, with revenues declining 15 percent to GBP 1.7 million (H1 2008: GBP 2 million), and online casino revenues likewise slipped 8 percent to GBP 2.4 million (H1 2008: GBP 2.6 million.

Management revealed that future plans for the online division include the launch of GCasino.com, which will be the premier Online Casino brand, benefitting from it's prestigious land equivalent.

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