Casino operator Rank furloughs nearly 90% of UK staff By Reuters
Monday 20th April 2020
(Reuters) - Casino and gaming operator Rank Group Plc (L:RNK) said on Monday it had furloughed nearly 90% of its workforce in the UK as its venues remain closed due to coronavirus-led lockdowns.
The company said about 7,000 of its 7,600 workers had been furloughed and would receive 80% of their salary under the government's job retention scheme, while its directors also volunteered a 20% cut to pay.
Rank, whose like-for-like net gaming revenue fell 4% for the third quarter, forecast annual underlying operating profit between 48 million pounds ($59.76 million) and 58 million pounds, assuming its venues remain closed for the rest of the financial year.