Edison Initiates Coverage on Rank Group

LONDON, September 8, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Rank Group 

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Highlights of the analysis on Rank Group by Edison's travel & leisure analysts Jane Anscombe and Eric Opara include:

Rank is the UK's largest multi-channel casino operator with Grosvenor Casinos and the second largest multi-channel bingo operator with Mecca. It is also the fourth largest bingo operator in Spain and has two casinos in Belgium. About 95% of Rank's revenues arise in the UK.

Rank's shares have performed well over the past year, but the FY16 EV/EBITDA is still only 8.3x, below the peer group average despite the fact that Rank is fully regulated and delivering good profits and dividend growth on our estimates. The reduction in holding by the major shareholder in February 2015 has also improved liquidity. Our sum of the parts produces a value of 290p to 360p per share.

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All reports published by Edison are available to download free of charge from its website http://www.edisongroup.com.

About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support their capital markets activities. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

For more information please contact:

Jane Anscombe, Edison Investment Research, +44(0)20-3077-5740
Eric Opara, Edison Investment Research, +44(0)20-3077-5700
[email protected]

Contact details: Learn more at http://www.edisongroup.com and connect with Edison on:
LinkedIn: http://www.linkedin.com/company/edison-investment-research
Twitter: http://www.twitter.com/Edison_Inv_Res
YouTube: http://www.youtube.com/edisonitv

SOURCE Edison Investment Research

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