The boss of Grosvenor Casinos owner Rank Group said Middle Eastern high-rollers are choosing Paris and Milan over London, holding its venues in the capital back even as the rest of the country recovers.
Revenue for the year to 30 June came to £306.3 million [$390.0 million] for Rank, which also owns Mecca Bingo. This was up on the previous year but still 15% below pre-pandemic levels, mostly due to London revenue still being 26% below 2019.
Over the past six weeks, performance continued to pick up across most of the UK, but London revenue ticked up by only 5%.
CEO John O’Reilly told the Standard that the weak London recovery was due to a lack of big-spending customers from abroad.
