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Agreed Nick it is very much alive, and when it moves it moves quickly, I thought the trading update was good(definitely not nondescript) with growth across the board in all departments. Rank is the biggest holding in my portfolio by a long way, and I will continue to add as and when it is possible, I have a target of at least £1.50 for Rank, which I do not believe is in the slightest bit unrealistic, and they hopefully should resume dividend payments when appropriate.
It's still very much alive, just needs a bit more customer spending in it's premises (higher end casinos) and general increase in flutters.
With the government giving state benefit pay rises continually then I'm sure some of that will feed through to the recipients spending more on a flutter.
This share is dead.
Nondescript trading statement just published.
What is your job a comedian
Better get these shares while they are so cheap. Rns tomorrow big news on a dividend, just saying so don't tell anyone shhhh
Rank has a Q3 trading statement due to be published on 18 April:
https://www.rank.com/en/investors/financial-calendar.html#category1
Always that way but when it drops and narrow eg 66/72 to 66 67 - BLIND buy
when it rises 72/78 to 76/81 BLIND trim and hopefully within the spread
NOT advice.
Just keep averaging down here and holding for the big BONANZA !!!
£1 party then 130p then £2 - coming at some point IMHO
Someone testing what this is gunna take
Let’s talk 100
Mary why is the spread so bad
Looks good This
Rns due
It just traded at 77p.
Could the majority shareholder with around 60% of Rank buyout the rest and take it private?
Massively undervalued - bid rumours - cheap as chips - a fun trader with the spread wider than a runway : )
All of the above and the last TU was good and no warnings so all set fair for the results
Stock looks to be on the move - any ideas why?
These will go up after end year results. Not many buys or sells as everyone is just waiting for the good news. Which will happen soon. So it's a hold'em not a fold'em.
I traded today twice in this stock, via HL and neither trades appear in the trade list. Same yesterday.
Normally other stocks my trades pop up on LSE.
Any ideas?
I think one of the problems with this share is the spread, it can appear as much as 5p at times, but when you get a quote it is less than 1p. SUPERSONICTRADER The Casino always wins, but agree with you on the buying opportunity at this price.
The way they are ripping off there customers I'd say they will have bumper profits. Should be at least a pound a share. It won't be long this will pop. And you will never get this price again . So load up now.
I do not know the reason for the recent pressure on the share price, but it is a good entry point in my opinion, and for the last two hours of trading today the spread was as good as it gets with this share, it is already my biggest holding, and I will keep adding to my holdings in Rank at the current valuation.
A better place since last year if the TU was anything to go by.
One day we willl be millionaires Rodders.
Thanks Mary.
I di remember reading that last week, but couldn't fathom where exactly we are right now in relation to those covenants.
And when an announcement of a dividend might be forthcoming.
JG68
Covenant restrictions - however these are easing and should allow dividends to return "as circumstances permit"
n January 2024, the Group successfully secured a new £120m club facility, comprising a £30m Term Loan and a £90m Revolving Credit Facility ('RCF'). The tenor for the Term Loan element is two years and nine months and the RCF is three years. Both the Term Loan and RCF have market typical tenor extension options which are at the lender's discretion.
The new facility retains the two financial covenants which were applicable to its previous facilities, net debt to EBITDA not to exceed 3x and EBITDA to net interest payable of no less than 3x. In addition, there is an additional covenant referred to as a Fixed Charge Cover ratio, where (net interest payable plus operating leases) to (EBITDA plus net operating leases) can be no less than 1.5x. The Group expects to retain significant headroom against these covenants.
Does anyone know what circumstances they're referring to when they said in the recent results:
The Board has not proposed an interim dividend but expects to recommence dividend payments as soon as circumstances permit.
As recently as Febuary ( 6 weeks ago)
ank Group recovery drives shares and impresses analysts
Last updated: 15:54 01 Feb 2024 GMT, First published: 15:49 01 Feb 2024 GMT
Bingo wheel with balls Rallied [70 p to 78.4p high]
Rank Group PLC (LSE:RNK), the owner of Mecca Bingo and Grosvenor Casino, saw shares soar around 5% after a “solid” set of interims, which highlighted strong recovery in all its channels.
Last year was filled with challenges, most notably weakened demand, plaguing the group’s financial results, with the six months to December 2022 producing less than £3 million in operating profits.
This year around, operating profits rose by £19 million to £21.7 million, largely due to a 9% increase in like-for-like revenues, which reached £363 million in the six months.
Bingo site closures and lower energy costs also helped, offsetting headwinds like the increased expenditure required for workers.
Grosvenor Casinos experienced a 10% uptick in like-for-like sales, with weekly averages rising above analyst estimates to £6.4 million and closing in on management’s target of £7 million.
Last April, the government announced it would be implementing reforms to the gambling industry, with companies like Rank expected to be affected.
Although the reforms haven’t been put through, management forecasts an £8 million hit due to the changes for staking limits online.
However, with changes to bingo also expected, analysts are confident Rank will see a £15 million to £20 million benefit.
With trading continuing positively in 2024, Shore Capital analysts are buyers of the stock and even see scope for operating profits to return to £100 million.
Wallowing around the lows again - ready for a shoot up before long IMHO