March 17, 2020 / 3:12 PM / in 16 days

Casino operator Rank Group warns of hit from virus-induced venue closures

(Reuters) - Casino and gaming operator Rank Group (RNK.L) said on Tuesday the shutdown of its venues across Spain and Belgium in the wake of the coronavirus outbreak would result in monthly costs of about 25 million pounds.

“In the last three weeks we have seen a slowdown in trading across our UK venues and in recent days we have inevitably witnessed a sharper decline,” according to the company.

The UK-listed company, whose total available cash and facilities after customer deposits at the end of February totalled 163 million pounds, said costs after mitigation measures would come to around 17 million pounds.

Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta

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