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Share Name Share Symbol Market Type Share ISIN Share Description
Rank Group Plc LSE:RNK London Ordinary Share GB00B1L5QH97 ORD 13 8/9P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00 -2.87% 169.00 168.20 169.00 176.80 168.20 176.80 573,787 16:35:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 329.6 -107.3 -16.5 - 792

Rank Share Discussion Threads

Showing 4351 to 4371 of 4550 messages
Chat Pages: 182  181  180  179  178  177  176  175  174  173  172  171  Older
DateSubjectAuthorDiscuss
07/5/2011
09:19
Another question I've asked many times is what happened to the 12.5% BT Pension Fund stake? Why did they sell at around the all time low of 70p when they purchased their stake for between 180p and 220p per share? I'm wondering if next week Guoco will suddenly be offered 12% from various institutions at a private negotiated price giving them in the region of 53% of Rank - in other words effective control of Rank. If one was able to look deeply in to this one may find that BT Pension Fund actually sold out for 150p per share and not on the open market for 70p per share. One final thing that has always bothered me is that Guoco have been advised by Goldman Sachs (who are like having a football team made up of a combined Barcelona/Manchester United.)
loganair
07/5/2011
08:45
Hong Kong investment group Guoco has announced a £585m cash offer for bingo and casino operator Rank, but it does not want the bid to succeed. Under takeover rules Guoco had to make the offer after buying an 11.6% stake in Rank from Malaysian casino group Genting when it came up for sale. The deal took Guoco's shareholding to 40.8%, above the 29.9% threshold where it had to make a bid. But the offer will not be raised and is expected to be open for only 21 days. Guoco's aim is to keep Rank's listing and a spokesman said: "Guoco remains very supportive of the company and its management team. This is not a hostile move." Guoco first invested in Rank in 2007 at 80p a share. Rank shares closed up 1.9p at 148.8p ahead of the release of the Guoco announcement ------------------------------------------------------------ I always thought that Gentings 11.6% stake was being bought on behalf of Guoco - their holding has been a Concert Party if ever I've seen one. I've posted several times, why has Genting bought it's stake when Rank wasn't paying a dividend? Genting paid in the region of an average 96p for it's stake less than 2 years ago. By selling at 150p per share has made a 56% profit on it's investment in less than 2 years.
loganair
19/4/2011
17:19
Rank Group (Buy, TP 179p) Last week's IMS showed solid progress against a challenging economic backdrop. We were particularly pleased to see casino visits up 12% on a like-for-like basis, as this is the best reflection of the business's underlying performance. Two G casino conversions are planned for 2011, together with one new build, and this together with the contribution from recent new openings/conversions should drive profits in the current year. Meanwhile, Mecca appears to have stabilised from a visits perspective, and in Q1 spend per head appreciated by 4%, despite the increase in VAT. The Full House concept remains key to an accelerated performance at Mecca. The recent £154m VAT refund leaves the group with net cash and facing the option of returning funds to shareholders or using the proceeds to fund acquisitions (Gala Casinos could be one option), although Rank is unlikely to make any move until HMRC loses its final appeal. Since the VAT success the share price has risen by 18p compared to the c40p per share the £154m represents, leaving plenty of upside. If Rank does ultimately keep the proceeds, we would expect to move our target price to c200p. This is well managed focused group with clear catalysts for a re-rating.
loganair
14/4/2011
18:19
Interim Management Statement - Broker Assessment Solid start, strong underlying casino Rank had made a solid start to the year and whilst casino revenues are flat the underlying strength of the business is highlighted by a 12% LFL increase in visits. Meanwhile, there is no value in the current share price for the recent VAT win. We continue to view Rank as a core buy. Q1 has been solid if not a little mixed. Casino revenues are flat but this is due to a low win margin in the London casinos. The underlying strength of the business is highlighted by a 12% LFL growth in the number of visits. It should also be remembered that the comparable period in 2010 was also very strong (+9% LFL). Mecca revenues are up 4% with visits stable, growth coming from increased spend per head despite the impact of VAT. Rank Interactive revenues are +23% driven by a recovery at BlueSquare and continued strength in Mecca Bingo. The one negative element was the 20% decline in TR Espana as the smoking ban hits home. We see no need to change our numbers at this stage. Good value. Our positive stance on Rank is based on the solid prospects for casino (supported by the G format), a belief that Mecca has stabilised and that the Full House concept could significantly boost profits if it is perfected and, the balance sheet flexibility. The recent VAT success means that Rank is effectively in a net cash position. Assuming HMRC is not successful on appeal, then we would expect either excess capital to be returned to shareholders or be used to fund an acquisition – which could be Gala Casinos (if the new owners are willing to sell at a reasonable price). We don't believe that this is reflected in the current rating.
loganair
13/4/2011
17:39
Rank Group Ltd v The Commissioners for Her Majesty's Revenue & Customs, Decision Number 20777 - In the second VAT case brought by it this year, the Rank Group is claiming a refund of £25 million of overpaid VAT paid in connection with slot machines. That's not bad another £25m plus interest.
loganair
13/4/2011
10:31
Thanks for that Logan , thought I was talking to meself there for a while
scrapman
12/4/2011
13:58
It looks like Rank may have a little more cash to come back from HMRC: Plenty of chips to play with After HMRC reluctantly handed over £74.8m (with a further £79.5m of interest due), Rank is close to getting a full house in terms of the various VAT claims it has lodged (only slots to go now). Assuming Rank gets to keep the money, management will have to decide what to do with it. The organic development programme is already fully funded from cash flow and following receipt of the interest (due later this month) Rank will be left with net cash. Add the expected £47m year-end net cash position, then in theory the company could return £286m or 73p to shareholders. A fair value for the shares following the return would be 130p. Therefore, under this scenario the total value would be 203p per share. Another alternative is for management to use the proceeds to fund acquisitions. This would most likely be in the area of land based casinos. However, beyond a bid for Gala's casino business, the opportunity doesn't appear that significant. Given the issues that have surrounded Gala it is difficult to accurately guess what the business is worth but based on the £30m EBITDA it achieved in 2010, we think £300m is a reasonable ballpark assumption. Financially this is a deal Rank could do without recourse to shareholders. The competition authorities would likely look at such a deal but Rank would argue that given the nature of the casino business, it is in no position to manipulate prices to the detriment of the consumer. Whether Gala's shareholders/financiers are in a position to sell at this point in time or at this level is another matter. At the current point in time we feel that the most likely outcome is that Rank does return cash to shareholders but that management will want to keep their options open so it may restrict borrowing to 1x EBITDA. This would still return about 38p per share. Whatever, the company decides to do with the cash, the shares represent excellent value at this level. Source: Peel Hunt estimates (this is the third time in the past 6 months they have increased their estimate.) .................2011E................ 2012E ........Previous..New..Change.Previous..New.Change PBT.(£m).56.4.....58....0.3%... 59.9....67.6..13% EPS.(p)..10.4.....10.8..4%......11.2....12.8..14% DPS.(p)...2.8......2.9..3%.......3.1.....3.6..15%
loganair
12/4/2011
13:47
Peel Hunt - Rank Group (Buy, TP 179p) The group has taken time to shake of the shackles of the past in terms of perception, but over the last two years Rank has been one of the best performing stocks in the sector. The recent VAT success could see a significant return of value to shareholders, or possibly used to finance a move for Gala Casinos; either should be well received by the market.
loganair
12/4/2011
13:33
Still here or there as it is and waiting. The Investors Chronicle reconed 'Keep buying Rank Group' at 155p, 'now that it has settled its long running VAT dispute with HMRC' while brokers at Peel Hunt wonder how the windfall will be used within the company. Rank could have surplus of over £40m by the end of 2011, wiping out around £110m of net debt and leaving Rank free to pursue acquisitions in online gaming and casinos, notes the broker.
loganair
09/4/2011
10:30
Logan , you about , any views on the spike in volumes this week , ?
scrapman
08/4/2011
09:52
unusual volumes of late , something happening ?? if todays 2x 250000 are not a roll , it would give a bit of reason why the price was knocked this week ,
scrapman
29/3/2011
09:19
looks like 150p is the new 130p , stuck here untill something else happens
scrapman
28/3/2011
08:51
seems like 185 is very realistic , if the rebates hold up , and another chunk of change on the way for interest
scrapman
23/3/2011
17:59
http://www.my-share.co.uk/Broker-notes-February-2011/broker-notes-march-2011.html Broker upgrade today target 185p
nellie1973
23/3/2011
08:52
Yes I know you have been perplexed by the BT holding , makes a mockery of the reporting rules , Where do you see the share price heading in the next few weeks , ?? any chance that with the cash in the bank a new interested party will show their hand , Guoco and Gentings stake , plus a few others , and it's a done deal
scrapman
22/3/2011
17:06
hi Logan , seems like HMRC have given up the ghost , maybe clearing the decks prior to the budget , if this does not tempt Guoco , nothing will +++++++++++++++++++++++++++++++++++++= C&P from Yahoo British bingo hall and casino operator Rank Group said it had received a tax and interest charge rebate worth around 154 million pounds, sending its shares up 16 percent on Tuesday. Skip related content The group, which runs Mecca Bingo, said it had received 74.8 million pounds from Her Majesty's Revenue and Customs (HMRC) in overpaid VAT tax. The repayment covers VAT paid on games of bingo from 1973 to 1996. Rank said it would also receive around 79.5 million pounds of interest relating to this claim later in March. "These repayments follow successive rulings in Rank's favour in both the First-tier Tribunal's tax chamber and the High Court," Rank said in a statement. Shares in Rank rose by 16 percent to 150 pence following the announcement, valuing the business at 580 million pounds. HMRC has appealed the rulings, however, and the claims will now be considered by the European Court of Justice. Rank said it expected that this appeal will be heard in 2011 and it would make the appropriate repayments if the appeal is successful. "The claims concern the inconsistent application of VAT to bingo revenue generated by Rank's businesses. It is Rank's contention that this inconsistency contravened the European Union's principle of fiscal neutrality," Rank said. (Reporting by Matt Scuffham, Editing by Rosalba O'Brien) ======== Is that + to aprox 50p a share ??
scrapman
22/3/2011
16:48
This is unexpected fantastic news. With already £101m back from HMRC over the past 15 months now another £74.8m plus £79.5m in back interest making a sub total of £154.3m, a total in 15 months of £255.3m. They are now in a position to easily pay of their debt, (Net debt of GBP123.4m). This will also save them a few £m in interest payments which can go straight to the bottom line.
loganair
22/3/2011
16:25
Nice jump on that news :-)
5dally
16/3/2011
09:15
All very quiet in here (again) Am in Far East at the moment , last week in Malaysia ,local buiseness paper there had an article that many Malaysian company looking to buy overseas company's as a lack of M&A opps in local market , wish they would hurry up then !!
scrapman
02/3/2011
11:23
Does not not one think that there may be fewer Middle Eastern punters, or certainly, less cash flowing in places like the Victoria, given the state of the MENA region? It might even be the end of the football boom if Crown Princes no longer have access to a cash float which may or not be there in time.
randolph and mortimer
01/3/2011
11:05
Peel Hunt 28 February 2011: Rank Group (Buy, TP 160p from 145p) - Upgrade post final results The reinvention of Rank into a focused company with a track record of overdelivery continued with last week's final results. Adjusted PBT came in 4% ahead of our forecast (which we had already upgraded twice during the year). Given that the December snow probably cost over £2m of lost profit at Mecca, the 2010 result was even more impressive. 2011 has started solidly with LFL sales up 2% at the group level. Grosvenor is off 6%, but this is the result of a below-average hold in the London casinos; visits are actually up 16% across the division. The interest charge will be higher than we originally expected, and this is largely because of the forthcoming refinancing. As a consequence, we are putting through a 3% upgrade to our EBITDA forecast for 2011, but after the higher interest charge this equates to a 1% rise at the PBT level. The company has guided to a lower tax charge, so the advance at the EPS level is 3%. While this is not a spectacular increase, Rank has consistently outperformed (in the underlying business) over the past few years and a further upward revision to forecasts is possible. We are moving our target price to 160p from 145p, reflecting the benefits to cash flow from the lower tax charge going forward and the marginal upgrade to numbers. At 160p, the prospective EV/EBITDA would be 7.7x for 2011E, falling to 7.2x to the following year. This is supported by a sum-of-the-parts valuation and DCF. Furthermore, this does not include the potential receipt of further tax claims, which could be worth at least £65m. Rank presents both a recovery story (Mecca and Interactive) and expansive growth (casino). Management has done an excellent job in a difficult market and with debt falling and strong cash generation, it has the weapons to maximise the opportunity. Buy. Rank Group - changes to forecasts ............................2011E................2012E Y/end December (£m) Previous New Change Previous New Change EBITDA................93.0...95.6...3%....96.6...98.6...2% PBT...................56.1...56.4...1%....58.8...59.9...2% EPS (p)...............10.1...10.4...3%....10.4...11.2...8%
loganair
Chat Pages: 182  181  180  179  178  177  176  175  174  173  172  171  Older
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