Anyone any thoughts on Rank from here on?
They're about to sell hard rock cafe leaving them essentially with casino's & bingo.
Do people on here think that they will be taken over like other casino operators or will they suffer with a drop in consumer spending in the recession (that apparently we're not in! :-)
Comments/opinions gratefully received

I got in at 238p, a little while back on the basis that the management had improved for the better and when smaller would be a take over target. However the chart looks to have formed a head and shoulders targetting around 200p. If it drops to 215p I will get out. If the head and shoulders formation fails, I think it move up very nicely. H

Cheers for that - much appreciated
(& heres hoping - as bought recently at 224p)

Rank says UK trading difficulties worse than expected
AFX


LONDON (Thomson Financial) - Rank Group PLC said recent trading difficulties affecting its UK retail businesses are worse than anticipated and warned that full-year operating profit would 'be significantly lower than in 2006' should the disappointing levels of recent weeks' trading continue through to the year-end.

The UK gaming company attributed the drop in revenues from its Mecca Bingo and Grosvenor Casinos units to a combination of the loss of Section 21 gaming terminals as required by the Gambling Act 2005 and the bans on smoking in enclosed public places.

The company reported 2 pct like-for-like growth in continuing group revenues for the 40 weeks to Oct 7 and said total sales for the continuing group are 1 pct below the comparable period in 2006.

However, the company said its interactive business Blue Square continued to deliver impressive growth and reported good performance by its Spanish bingo clubs business Top Rank Espana.

Rank said it will take vigorous action to meet the immediate challenges facing its businesses, adding that the problems it faces are shared by the broader UK bingo club and casino markets and 'are not unique to Rank.'

'Our focus remains the protection of revenue in the light of recent changes in legislation,' the company said in a trading update.

tf.TFN-Europe_newsdesk@thomson.com

Never trust a Company that releases bad news on a Friday afternoon.

The shorters will have this below 100p next week.

I can't believe there are so many buys with such bad news released...throwing away their dosh

one to watch.

Hi all......
Agree one to watch..............
I'm sure it will bounce back .............. as ever ....... the question is when?
Will be looking for a turn very soon.
Cheers
Amar

This could fall another 50% to around 70p.
Profit forecasts have been slashed perhaps 25 mills this year.
Conditions have worsened since the no smoking ban.

I agree and profit warnings usually comes in twice or three times consequetively nowadays.

Sub 100p sometime hlyeo in the course of things perhaps lower.

hyleo .... i think many have been forecasting horrid results from RNK for a while, so the buys could quite easily be shorts being closed off ...... however, you are certainly right that profit warnings or other bad news rarely comes singly.

amardev ..... in your dreams! .... only reason for a sustainable bounce would be t/o approach

At 124p, this still looks attractive to short.

Well ...... at least we got a debate going.

Keep posting.

Cheers
Amar

Yes got it right...shorted at 113p this morning.

big troubles for rank today hope the management are listening.

So are we likely to see a bid for Rnk early in the New Year, or will buyers hold off waiting for worse news?
Anyone got a stab at a likely take out valuation?
Would also help to qualify any replies with a long, short or none status on holdings (why don't more people do this on these message boards?)
Oh, by the way, I bought in at 96 on Monday :-(

just for the record ..... sp still heading south, so without a bid, not pretty

Anyone else following this?

Obviously not but its just broken north through its bolly bands for the first time in two years

Watching for a few weeks and looking good.

Unloved stock.