Rank Group PLC
14 June 2004
DCMS RESPONSE TO JOINT COMMITTEE REPORT ON THE DRAFT GAMBLING BILL
The Rank Group Plc ('Rank') has noted the publication today of the detailed
response by the Department of Culture Media and Sport ('DCMS') to the report
issued by the Joint Committee on the Draft Gambling Bill ('JCDGB') which was
issued on 7 April 2004.
Today's announcement is a further step towards updating the regulatory framework
for UK gaming. In particular, the comments from Tessa Jowell, Secretary of State
for Culture, Media and Sport, that she hopes to introduce a Gambling Bill as
soon as possible, 'hopefully later this year', are very encouraging.
The response from DCMS is more restrictive in certain areas than originally
envisaged, in particular in relation to numbers and categories of slot machines.
However, Rank remains confident that the overall impact of the new legislation,
which will include the abolition of the 24-hour rule and the introduction of
casino advertising, will be significant.
Commenting on the DCMS response, Mike Smith Chief Executive said:
'Today's response is another step towards the modernisation of the UK gaming
regulations. The proposed timetable for introduction of the new Bill is
particularly encouraging.
Rank's strategy is unchanged. The Group continues to invest in its UK gaming
activities through new licences, relocations and renovations of existing
premises. With 155 premises and a further to opening before the end of 2004, the
Group already has over 3.3m square feet of licensed gaming premises and is well
placed to take advantage of the new law, as and when it is introduced.'
- ends -
Enquiries:
The Rank Group Plc 0207 535 8031
Peter Reynolds
The Maitland Consultancy 020 7379 5151
Suzanne Bartch
This information is provided by RNS
The company news service from the London Stock Exchange
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