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BUZZ-Rank Group: Profit fall prompts transformation drive

** Casino operator Rank Group falls 6.4 pct after FY profits slump 40 pct

** Stock at the bottom of London's midcap index

** Rank has been trying to boost its online operations for some time now to attract younger players and offset the slowdown at its halls and casinos

** However, traffic dropped at its casinos and bingo halls, and its online business saw lower demand in the year

** Co unveils turnaround plan on Thursday to boost revenue and cut costs

** "New CEO's plans to maximise value from the business have been wrapped up in a 'transformation programme' ... We expect multiple opportunities to drive revenue faster and (cost cuts) to be revealed," Peel Hunt analysts say