[bsa_pro_ad_space id=1 link=same] [bsa_pro_ad_space id=2]

Skip to Content

Operator News

UK – ‘Busy trading’ sees nine per cent first half jump for Rank

By - 2 February 2024

Casino and bingo operator Rank Group has moved back into profit for the last six month with more customers returning to its Grosvenor Casino and Mecca Bingo venues, boosted by ‘busy trading’ throughout Christmas and New Year.

Like-for-like Net Gaming Revenue in H1 grew nine per cent year-on-year with all businesses in growth. Underlying operating profit increased to £21.7m, reflecting both the growth in NGR and the operating leverage of the Group.

The Group’s strong financial position is enabling ongoing investment in its venues and digital
businesses and positions the group to take full advantage of any future improvement in the
macro-economic climate and the planned and much needed reforms in the UK Government’s
review of gambling legislation.

The operator’s UK facing casino, bingo and digital businesses successfully completed Gambling
Commission compliance assessments in calendar year 2023. The UK digital business also
successfully concluded a Gibraltar Commissioner assessment during the period.

Grosvenor venues LFL NGR grew 10 per cent in H1 compared to the prior year as the business
continued to improve the quality of its implementation of safer gambling measures and
upgraded products and facilities. Grosvenor venues customer visits grew eight per cent with spend per customer visit up two per cent. Active customers grew two per cent.

Mecca venues LFL NGR grew nine per cent on the prior year with spend per visit up seven per cent on visits up two per cent. Active customers increased by two per cent. Mecca’s revenue and profitability continued to benefit from the active management of the estate with one additional closure in H1, taking the estate to 55 venues.

Enracha venues grew LFL NGR 10 per cent in the period with customer visit volumes up nine per cent and active customers growing by nine per cent. Spend per visit grew by one per cent.

Digital NGR grew by eight per cent with strong growth in Grosvenor and Mecca cross-channel customer
revenues and in the Yo brand in Spain.

John O’Reilly, Chief Executive of The Rank Group Plc said: “After what has been a very challenging few years for Rank due to a wide range of external macro factors, we are starting to build revenues and, with our strong operational leverage, we are improving our profitability, with the Group delivering revenue and operating profit growth across all businesses. We are well positioned to optimise the opportunities afforded by the UK Government’s planned land-based regulatory reforms which will hopefully be implemented through the passing of secondary legislation in the summer of 2024. These reforms cannot come soon enough in enabling us to modernise our proposition to better meet our customers’ expectations.

“We are making good progress with the strong pipeline of development initiatives in both our UK and Spanish digital brands to accelerate revenue and profit growth. Whilst we expect UK digital growth to be offset in the short term by the impact of new maximum online slot stakes and the impact of the statutory levy in the UK, we are confident in the opportunities of delivering a market leading cross channel experience for our Grosvenor and Mecca customers. We are also excited to grow our digital business in selected new markets, commencing later this calendar year with the launch of the YoBingo brand in Portugal.”

“I would like to express my considerable thanks to my colleagues across the Group who continue to excite, entertain and protect our customers, provide support to their local communities and contribute significantly to the progress we are making in the transformation of the Group. “

Share via
Copy link