Business
Pre-Budget Report
Pre-Budget Report.
About this update from Rank Group Plc
[{"type":"text","content":"\n RNS Number : 8587D Rank Group PLC 09 December 2009 \n\n\n\n\n9 December 2009\n\nRank welcomes reduction in bingo duty\n\nThe Rank Group Plc ('Rank' or the 'Group') welcomes today's announcement in the Pre-Budget Report that the rate of bingo duty will be lowered from 22% of revenue to 20%.\n\nThe change, which takes effect at the time of the Government's 2010 Budget statement, will result in an estimated £2.5m full-year benefit to operating profit for the Group's Mecca Bingo business. Mecca Bingo operates 103 licensed bingo clubs across Great Britain.\n\nIan Burke, chief executive of Rank said:\n\n\"Today's announcement is a step in the right direction. However, it is still not clear why Britain's bingo clubs should be subject to a higher tax rate than that applied to other forms of gaming and betting.\"\n\nends \n\nContacts:\nThe Rank Group Dan Waugh, director of investor relations 01628 504053 \nFinancial Dynamics Ben Foster/Marc Cohen 020 7831 3113 \nNotes to editors: \nGambling taxation in Great Britain\nThe table below sets out the range of duty rates applied to gaming and betting activities in Great Britain.\n\n\n\n\n\nActivity\n\n\nDuty rate\n\n\n\n\nBingo (in a licensed bingo club)\n\n\n22% (reducing to 20% in 2010)\n\n\n\n\nBingo (online)\n\n\n15%\n\n\n\n\nBetting (in a betting shop)\n\n\n15%\n\n\n\n\nBetting (online)\n\n\n15%\n\n\n\n\nFootball pools\n\n\n15%\n\n\n\n\nCasino games (in a licensed casino)\n\n\n15% to 50%\n\n\n\n\nCasino games (online)\n\n\n15%\n\n\n\n\n\nAbout The Rank Group Plc \nThe Rank Group Plc is a leading European gaming and betting business, based in the UK and listed on the London Stock Exchange (RNK.L). Its principal activities are the operation of bingo clubs and casinos with complementary interactive gaming and bookmaking services. \n\nRank's operations comprise:\n\n\n\nGrosvenor Casinos - 35 casinos in Great Britain; two casinos in Belgium\n\n\nMecca Bingo - 103 bingo clubs in Great Britain\n\n\nTop Rank Espana - 11 bingo c...