Rank Group reports significant growth, with UK casino and digital operations thriving.
- The company’s Net Gaming Revenue (NGR) increased by 12%, reaching £197.4m.
- Venue NGR rose by 10%, while digital NGR saw a 15% increase.
- Grosvenor and Mecca, key digital channels, surged by 21% and 23%, respectively.
- CEO John O’Reilly highlights strengthened business and anticipates 2025 reforms.
Rank Group has witnessed a substantial boost in its UK casino and digital gambling revenue, as customers increasingly engage with their offerings. The firm’s Net Gaming Revenue (NGR) has seen a remarkable increase of 12%, amounting to £197.4 million. This surge in NGR is emblematic of the positive trajectory observed since the reopening of casinos.
The company’s performance has been impressive across all business units, with notable contributions from its UK venues and digital platforms. Specifically, the venue NGR recorded a 10% rise, underscoring the resurgence in patronage at physical casino locations. Concurrently, the digital NGR exhibited a robust growth of 15%, highlighting the increasing popularity of online gambling services.
Grosvenor and Mecca, Rank’s primary UK digital channels, have reported exceptional performance figures. Grosvenor saw its NGR surge by 21%, while Mecca experienced a 23% increase. These results reflect the enhancements Rank has implemented in both its land-based and digital operations, catering to evolving customer preferences.
John O’Reilly, Rank Group’s Chief Executive Officer, expressed optimism regarding the company’s performance, stating, “With all business units performing well, the double-digit growth in our Grosvenor venues and UK digital business is particularly encouraging, with customers clearly enjoying the improvements we are making across our land-based estate and to our digital offering.”
Additionally, Rank Group has returned to profitability, surpassing prior forecasts. The company reported a nine per cent year-on-year increase in net gaming revenue to £734.4 million for the 12 months ending 30 June 2024.
Rank Group is also looking towards the future with anticipation of land-based legislative reforms expected in 2025, which are likely to further bolster their business model. The company currently operates 152 locations across the UK, primarily through its Mecca Bingo and Grosvenor casino sites.
Rank Group’s strategic improvements and robust growth signal a promising future for their UK gambling operations.
