BINGO and casino firm Rank Group was left asking for more yesterday after reporting a mammoth £34m energy bill.

Although group like-for-like revenues climbed two per cent to £165.7m in the three months to September, the owner of Mecca Bingo and Grosvenor casinos warned that wider costs had also spiralled.

Not only did Rank tell shareholders that it expects customers' discretionary spending "to remain under significant pressure this year", it also revealed that its own energy bill was set to shoot up £11m to £34m for the current year.

The news sent shares plunging over 10 per cent yesterday afternoon, as the harsh reality of the energy crisis sinks in for brickand-mortar gambling spaces.

London saved the day for the group's casino business, reporting a 21 per cent jump in revenues for the Grosvenor brand.

However, this uplift sits in contrast for the casino, which saw a five per cent drop in overall revenues after lower spending per customer visit.

Director at the Edison Group Russell Pointon said higher visitor numbers but lower spend was a "consistent message" for venuebased gambling.

(c) 2022 City A.M., source Newspaper