UK: Rank chief executive doubled stake in casino and bingo-hall operator
9 Mar 2009
LONDON, England -- As reported by The Times: "Rank Group's chief executive Ian Burke has more than doubled his stake in the casino and bingo-hall operator, despite sounding a cautious note on the firm's prospects last month.
"He bought 85,000 shares at 59.75p a time, or a total of about £50,000, and now has around 160,500 shares in the firm that owns Mecca bingo halls and Grosvenor casinos.
"In a statement accompanying Rank's full-year results on February 26, Burke said the company's near-term outlook "remains clouded by economic uncertainty".
Rank's adjusted profit before tax in 2008 slipped to £40.5m from £46.2m the previous year on revenues that fell to £522.2m from £534.4m..."