It would appear that things are going from bad to worse for Grosvenor Casinos, for not only have the recently been hit with a huge £500,000 fine, for courting one of their self excluded players, but they appear to be experiencing a downturn in income too.
The casino income fell by some 7.2% over the last 16 weeks, and their parent company that being the Rank Group has experienced a 4.9% decrease in their group revenue over that period too, which is also made up of their Mecca Bing group seeing a 5% fall in revenue too.
The powers that be in the Rank Group have stated that one of the main reasons their income has nosedived over the last four months is that the summer has been an exceptionally hot one in the UK and that has put off many of their customers visiting their venues to gamble over the summer months.
However, it is not all doom and gloom for the Rank Group for they do of course operate online and mobile gambling sites, and their digital arm of the company that operates those gambling site has seen a 1.7% jump in revenue, and if you include in those figures their recently launched Spanish facing YoBingo site that revenue increase is a much healthier 13.5%.
But it would appear that the online ARM of Grosvenor Casinos has been suffering too, for the income generated has dropped by some 5.2%, and they are blaming the much tighter regulations they have to abide by in regards to know your customer requirements that they now have to perform on their players.
The Rank Group are putting together a range of ideas and concepts moving forward that the hope are going to reverse the loss of income they have been experiencing, and whether they will prove to be fruitful does of course remain to be seen.
Steven is a seasoned freelancer writer from Coventry in the UK. He specialises in writing about the gambling industry and aims to provide unbiased, trustworthy and high quality content to the public. Whilst away from his freelance writing work he enjoys watching the football and following the F1.