Rank Seriously Considering Hard Rock Cafe Sale

Hard Rock Cafe, the famous music memorabilia themed burger restaurantm is in danger of being possibly sold-off by its owner, Rank Leisure and Gaming Company, as the Company continues to sold-off its other business interests in order to focus its attention and resources in its gaming industry interests.

Rank, who is the owner of Mecca Bingo hall and Grosvenor Casino, said that it was reviewing its options on whether to keep the 35-year old Hard Rock Chain, which is a favorite among the tourists not only in Britain but in the whole world as well.

The Hard Rock concept was born in a London Restaurant back in 1971. It was founded by American business partners Isaac Tigrett and Peter Morton, who share a common passion for music. The Hard Rock chain now includes 121 cafes in more than 40 countries all over the world. Hard Rock's profits reaches more than 30 million UK Pounds early and is estimated to be worth half a billion pounds.

Hard Rock's motto is "Love All, Serve All" it means that whoever you are,your race or your skin color, you will be serve fairly and justly. Hard Rock's collection of music memorabilia are immense. Like the guitars of Pete Townshend and Eric Clapton, which are donated on the 1970's and a lot more, even Madonna's famous bustiers, which she wore while on concert during those days.Rank owns about 68 of this cafes and the other 53 are franchised. They also operate Rock Shops and has expanded in its casino and hotel interests.

Rank reported that its like for like revenues in Hard Rock's company operated cafes in the half-year to June 25, 2006 rise up to 8%, with revenues from royalties from Hard Rock's franchises also . Analysts estimated that Hard Rock could be at least worth between 450 million UK Pounds and 540 million UK Pounds.

According to Matthew Gerard at Investec, that there is a possibility that Rank could try float Hard Rock in the U.S., where it is better regarded than in U.K. Hard Rock's sale is sensible strategic shift that would raise funds for possible investment opportunities especially with the upcoming gambling deregulation that Rank could greatly benefit of over the next two years.

Rank's shares closed up at 2.9% at 203p just yesterday. According to the company, that profits from its gaming arm were under immense pressure from rising expenses. The World Cup has also affected Rank, with admissions in its casino slipping as football and the warm climate lured them away. The smoking ban in Scotland had dented profits in Rank owned Bingo Halls that are located there.


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Bingo callers have an important role in any bingo event. In a bingo hall their main duty is keeping the audience alert when they call out the numbers.

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Bingo callers have an important role in any bingo event. In a bingo hall their main duty is keeping the audience alert when they call out the numbers.

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