Rank Group, the owner of Mecca Bingo, saw its shares fall as much as 10% on Thursday after it admitted its energy bill is expected to rise to £34m ($38m) for the current year.

The bingo hall and casino firm said costs have continued to soar, with its new energy forecast up from the £23m bill last year.

It is also under pressure from wage inflation, higher food costs and supply chains, its said.

The company now expects “challenging” conditions to continue in the months ahead, after already recording weaker customer spending at its casinos amid a sharp cost of living crisis.