British Group Sees Six Per Cent Growth

Turnover at Grosvenor Casinos, owned by Rank Gaming, was up by 6% in 2003 with operating profit up 7% - despite a slow down in London.

Turnover throughout the group's entire casino estate rose to £173.7m from £164.3m in 2003. CEO Mike Smith explained that the overall downturn in the capital was due to two main things. Firstly, profits at the group's two upper end London casinos, the Clermont and the Park Tower, were below 2003 figures due mainly to the impact of the major refurbishment at the Park Tower during the first half of the year.

These figures were compounded with a lower win percentage at both UK casinos in the second half of the year. However, since reopening in July with 40% additional gaming space, the group has seen admissions and handle increase substantially, Turnover at the upper casinos leveled off at £19m, down from £23.2m the previous year.