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Waterman, I believe you were spot on with reason today, a lot of Bills have been sidelined, could not find out about the gambling machine legislative Bill, Nick you may get a nice chance to buy back if it is confirmed sidelined, I am also interested in averaging up at the right price.
Could be, but I believe there was a bit of consensus on the drive for paperless(bizarre), other than that I believe Rank is in a good place without the new legislation.
General Election spanner in the works to new gambling regulations? Will the vote to pass now go ahead ????
Very bad luck if not. All the potential benefits could be kicked into the long grass.
Sell went from 91.2p to 80p in a second, I know Rank can move quickly either way but that was dramatic.
What do you mean
Rank Group PLC, up 3.4% at 98.00p, 12-month range 60.40p-107.40p. The stock looks set to rise for the sixth-successive day. The Grosvenor Casinos and Mecca bingo owner last week welcomed a publication by the UK government which follows a land-based consultation launched in July last year. The new regulations to be voted on by parliament "will result in Grosvenor Casinos broadly doubling B1 gaming machine numbers from 1,361 currently. We intend to add the first around 700 machines during FY25, with further machines being added in the following years in line with property refurbishments, extensions and relocations."
Trimming into the rise is a good move but like you this seems a rise with momentum.
Divis / growth / improving margins / a great matrix.
This needs a we love ❤️ RANK thread.
The mms have a spread so wide a bus could drive through it. Used to be fab at the opening to get a sale or purchase on a spike.
Trimming into the ri
Even if they proposed 4p it will only cost them £18m approx and more than half will go to the owner
Also don’t forget on final results we might get a dividend announcement
Yes MaryBr190 , I love this company, rank has traded between 60p-1.00 for the last two years, and luckily for me I have surfed the Rank wave better than I have with any other share, it makes up 25% of my portfolio, and I have an average of 66.5p, I have sold(trimmed)15-20%, but I am in no hurry to sell any more this time around as it feels different on this wave, and I am loving it, a good company, with growth in all departments, and the potential of an income explosion due to the proposed new machine legislation, under the radar and a little unloved for reasons mentioned by other fantastic posters on this forum(ownership, and large false spread), I love RANK.
Preparing to get the drinks in for the £1 🥳 party.
Alliance News) - Rank Group PLC on Thursday welcomed a publication by the UK government which follows a land-based consultation launched in July last year.
The Maidenhead, Berkshire-based casino owner has operations in the UK and Spain under the Grosvenor, Mecca, Yo and Enracha brands.
The company said the UK government will permit an increase in the number of gaming machines to 80 per licence, quadrupled from 20.
Rank shares rose 6.0% to 94.80 pence each on Thursday afternoon in London.
The new regulations to be voted on by parliament "will result in Grosvenor Casinos broadly doubling B1 gaming machine numbers from 1,361 currently. We intend to add the first around 700 machines during FY25, with further machines being added in the following years in line with property refurbishments, extensions and relocations."
Chief Executive Officer John O'Reilly said: "Today's government response to the land-based consultation is good news for Rank. Providing the legislation is on the statute books by recess in late July, we are looking forward to improving the customer proposition in our venues with a roadmap of investments and improvements in the months and years that follow. The legislative modernisations cannot come a moment too soon, so we are pleased with the progress contained in today's announcement."
Gamechanging £1 ++++
LEI: 213800TXKD6XZWOFTE12
16 May 2024
The Rank Group Plc ('Rank' or the 'Group')
Publication of the Government's response to the land-based legislative reforms consultation
Rank welcomes today's publication of the Government's response to the land-based consultation launched in July 2023.
Today's announcement represents good progress and another important step closer to the passing of secondary legislation which will enable Rank's Grosvenor Casinos and Mecca Bingo venues to better meet the needs of our customers. The legislative process to deliver the land based reforms now commences with the Government announcing that six regulations will be laid before Parliament.
The increase in the number of gaming machines permitted in 1968 Act casinos from the current maximum of 20 per licence to up to 80 machines will result in Grosvenor Casinos broadly doubling B1 gaming machine numbers from 1,361 currently. We intend to add the first c. 700 machines during FY25, with further machines being added in the following years in line with property refurbishments, extensions and relocations.
Sports betting will be permitted in all casinos and we will be introducing various sports betting concepts in a number of Grosvenor venues.
We welcome the Government's commitment to removing the prohibition on direct debit card payments on gaming machines, alongside the introduction of appropriate player protections, and will now work closely with the Gambling Commission to ensure that customers are able to benefit from this change at the earliest opportunity.
In land-based bingo, the introduction of a 2:1 ratio in clubs, allowing operators to site two Category B3 machines for each Category C or D machine, will enable us to increase our current Category B3 cabinet numbers by c. 500 machines. This change will allow us to gradually remove ageing, reel-based machines from our Mecca estate. Overall, the Government's policy will enable us to reduce the number of cabinets across our Mecca estate.
John O'Reilly, Chief Executive of The Rank Group Plc said:
"Today's Government response to the land-based consultation is good news for Rank. Providing the legislation is on the statute books by recess in late July, we are looking forward to improving the customer proposition in our venues with a roadmap of investments and improvements in the months and years that follow. The legislative modernisations cannot come a moment too soon, so we are pleased with the progress contained in today's announcement."
"Accumulating book" - what does that mean?
Accumulating book - there will be a takeover.
A huge 1573990 shares trade today that looks like a buy has just showed up? Price has held up well last week or so. Doesn't look like i'll get to buy any back at a lower level, at the moment at least.
Will buy any dips - nice low average here after the recent moves up from the lows.
No one seems to understand the massive upside when they can start trading with their new machines in Mecca sites from September
Deutsche Bank starts Rank Group with 'buy' - price target 110 pence. Are fortunes changing? 🤞
Hold a shedload of these and a move from by 35% that could drop 20p for no reason creates opportunities. I trade my position most days and trim at these levels and after adding a lot at mid 60s have been taking some off the table. Expecting £1+ near term, however nothing goes straight up.
Just trimmed another 4000 shares. Hoping I get them back sometime later but no idea really. SP unusually strong this week, so holding some just in case there is some corporate stuff on it's way, in terms of someone stake building though turnover has dropped since the big blocks that went through a few days ago.
The only negative here is that there is a majority shareholder, who can control everything though I haven't let that dissuade me buying and would prefer they would sell a substantial stake to a partner or similar and drop well below 50%.
Mary, the actual spread is less than .025p, though there was a 2p spread about 20 minutes ago, even though quoted spread was as you said 7p, not sure why but historically always the same but usually narrows at some point during trading day(A trades pay the spread price), out of interest are you adding or trimming, or neither Mary.