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.

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