Rank sees FY ahead of expectations

(Sharecast News) - Gambling operator Rank Group on Tuesday said it expected annual earnings to be ahead of expectations after a 6% jump in net gaming revenue. The Mecca bingo owner said also said the Gambling Commission had accepted a £5m payment instead of a fine for regulatory misdemeanours including anti-money laundering and social responsibility failings.

Rank said group like-for-like NGR grew 6% to £834.1m and now expects to report full year underlying operating profit of at least £76m, above a company-compiled analyst consensus of £68.2m.

Reporting by Frank Prenesti for Sharecast.com