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Rank Groups Grosvenor Casinos Squeezed by AML Clamp Down, Weird Weather, and Lucky High Rollers

Rank Group (Image: Rank Group) It also suffered from a large dose of lucky-gambler-itis, with lower winning margins reported in the VIP segment. Grosvenor chain of 55 casinos across the UK, as well as Mecca Bingo, the country’s second-largest bingo operator. Last year, the UK Gambling Commission ordered casinos to scrutinize their VIP customers more stringently, by inquiring into the source of their income. This was part of a wider government drive to battle money laundering, especially in London, where banks, real estate agents, and art dealers have been instructed to become more vigilant about whom they do business with. Rank chief executive John O’Reilly said in an poker 3d earnings call on Friday that the extra checks were the principle reason for revenues at Grosvenor Casino dropping 6.1 percent at during the period. “We were obliged to ask a number of visitors about the source of their wealth,” he said. “So, if, for example, someone has cashed in chips over several evenings totaling more than, say, £15,000, then we have to be vigilant. While it could be totally legitimate money, we have to be sure. That takes time and effort, and left us with a backlog of checks to do, hitting sales and profits.” Meanwhile, in February, the normally temperate British Isles were hit by a weather front that the media dubbed the “Beast from gamblers anonymous chat rooms the East” — a large arctic airmass that brought Siberian conditions to the UK. The phenomenon resurfaced in March, albeit it to a lesser extent. Several months later, the country was sweltering in a heatwave, and the hottest June on record. The weather contributed to a fall in visitation to both Grosvenor Casino and Mecca Bingo properties, Rank said.

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6th Atlantic City casino to offer sports betting

6th Atlantic City casino to offer sports betting Atlantic City's Golden Nugget casino will become the sixth in New Jersey to offer sports betting. State Division of Gaming Enforcement Director David Rebuck says he has approved the Golden Nugget to begin offering on-premises sports betting Wednesday morning. The Golden Nugget will take its first sports bet about 90 minutes before Resorts opens its in-person sports betting operation. Resorts already offers online texas holdem and mobile sports betting. They will join the Borgata, Ocean Resort, Harrah's and Bally's casinos among sports betting providers. The Monmouth Park and Meadowlands racetracks also offer sports betting.

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