In line with other bookmakers that have been hit by a series of favourable results for punters and despite a 43.2 per cent growth in revenues to 283.9, Blue Square reported a 1m operating loss for the first half of the year, against an operating profit of 1.3m over the same period the year before.
Revenue from casino and poker games reached 52 per cent of the total and exceeded sports betting for the first time. The sportsbook now has over 156,000 active customers.
Rank Group Chief Executive Mike Smith conceded that he would not be building on Blue Squares current traditional betting outlets – a single shop next to the Grosvenor casino in Londons Edgware Road and a selection of racecourse pitches.
“The betting shop, which isnt making money, was intended to be a test-bed for Blue Squares systems, when we could roll out into casinos or bingo halls. Thats not going to happen now, so we wont be looking for any more shops.”
Blue Square is the online betting division of the Rank Group, which bought it in 2003 for 65m.
The Rank Group, which includes Hard Rock, Deluxe Film, Mecca Bingo and Grosvenor Casinos, posted an operating profit of 90.6m for the period.
Calculators
