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October 19, 2007
Following its announcement that its full year operating profit would be substantially lower, leading land-based bingo operator Rank has been hit by a HSBC broker call which cut its shares from overweight to neutral. The broker call is based on the perceived uncertainty surrounding Rank’s earnings over the rest of 2007. Rank had blamed a lot of its woes on the implementation of a smoking ban which it says affects its customer base at its land-based bingo halls. Rank does operate an online bingo hall franchise, as does competitor Top Ten Bingo which has also announced a dramatic drop in its land-based bingo revenues. Online bingo games revenues and free online bingo is believed to be practically immune to the effects of the recently implemented UK smoking ban and is seen by some online bingo observers to actually benefit from more bingo players choosing to stay home as a result of the ban. Written by John Witherspoon – Playing bingo online is fun. Relax and play online bingo from the comfort of your home. We’ve collected the best online bingo games for you.
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