GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
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."
Preparing to get the drinks in for the £1 🥳 party.
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.
Also don’t forget on final results we might get a dividend announcement
Even if they proposed 4p it will only cost them £18m approx and more than half will go to the owner
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
Trimming into the rise is a good move but like you this seems a rise with momentum.
Divis / growth / improving margins / a great matrix.
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."
Wow????
What do you mean
Sell went from 91.2p to 80p in a second, I know Rank can move quickly either way but that was dramatic.
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.
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.
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.
Have started readding some of the 94/5p sales and will go all in if it sinks sub 70p. A winner LT.
Have you been at the sherry again MaryBR190? Or are you speaking in tongues? Not sure what you are trying to say? Or did you accidentally sit on your keyboard?
Have these majority shareholders got special permission not to make an offer or have they and been knocked back when they reached 30% ?
Anyone know?
JG68, from what I know Guoco made a £1.50 a share offer 15 years ago which was accepted(reluctantly), but they did not take Rank private, since then they have continued to stake build whenever the share has languished, there are other examples of this situation the biggest I know of on the LSE is ABF(£20 Billion mkt cap) who have a shareholder that owns 60%, I know this does not answer your question but Rank is not unique in this situation.
Pop
What do you think his endgame is then if not to take it private?
Eventually accumulate so many shares ( possibly under 1.50) that it is taken private?
Don't quite get it, but it seems he's definitely playing the long game?
Maybe needs someone like playtech to come in and force his hand.
They recently tried to buy 888 for 1.50.
JG68, I do not know, but as you have said they are definitely in this for the long term, a lot of their shares have been purchased at sub £1 after 2008 stock market crash, and several large accumulations in recent years, obviously Guoco have all the keys to Rank as no takeover can happen without their approval, I am very happy to continue to hold and add if it's share price goes down, and see how it plays out, regardless of takeover possibilities I like Rank and it's future profit potential.