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Rank Group’s Intensifies Online Activities
 December 12, 2006, 10:07 am (5 years ago)The company has stated that it intends to focus on its online and phone betting businesses together with its casinos and bingo clubs, as it plots a new strategic course.
Following the sale of its Hard Rock Café chain to the Seminole tribe of Florida for $965 million (£490 million), British entertainment company Rank Group has announced that it now intends to focus on other areas of its business including its online activities.
'Today's announcement sets a clear strategic course for Rank as a focused gaming business,' said chief executive Ian Burke. 'We have established clear plans to capitalize on the changes taking place in UK gaming.'
Its Hard Rock business made a pre-tax profit of £35m in 2005 and has 132 outlets worldwide. Rank confirmed that it would give £350m of the sale proceeds to shareholders via a special dividend.
The Rank Group has sold off a number of its leisure businesses in recent years including Butlin's, Warner Holidays, Odeon Cinemas, Pinewood Studios and pub chain Tom Cobleigh.
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