Rank Group, a leading gambling firm, has announced impressive growth figures as the UK gambling market rebounds.
- The company’s Net Gaming Revenue (NGR) increased by 12% overall, reaching £197.4m in the latest reporting period.
- Both the physical casino venues and digital channels have seen robust growth, with digital NGR rising by 15%.
- Key digital brands, Grosvenor and Mecca, reported NGR surges of 21% and 23%, respectively, signalling strong customer engagement.
- This growth aligns with Rank Group’s strategic enhancements across their estate, amidst upcoming legislative reforms.
Rank Group, a prominent player in the gambling industry, has revealed a substantial 12% increase in Net Gaming Revenue (NGR), totalling £197.4 million. This performance reflects a broader trend within the industry as customers return to gambling both in physical venues and online platforms. The firm’s overall financial health appears buoyant as it capitalises on renewed consumer interest and spending in this sector.
A detailed breakdown of the reported figures shows that revenues from Rank’s casino venues increased by 10%, while their digital gambling operations saw a more pronounced uptick of 15%. The Grosvenor and Mecca digital brands registered even higher growth rates of 21% and 23%, respectively. This indicates that Rank’s strategic investments in their digital offerings are paying off, with more customers engaging via online channels.
John O’Reilly, Rank Group’s Chief Executive, remarked on the positive trajectory of the company’s financials, emphasising the double-digit growth experienced in both their Grosvenor venues and UK digital business. He highlighted, ‘customers are clearly enjoying the improvements we are making across our land-based estate and to our digital offering,’ underscoring the importance of ongoing enhancements and customer experience optimization.
Additionally, Rank Group, headquartered in Maidenhead and operating 152 locations, reported a noteworthy return to profitability as of August, surpassing previous expectations. The company’s annual net gaming revenue saw a growth of 9% year-on-year, amounting to £734.4 million for the year ending 30 June 2024, compared to the prior year’s £671.4 million.
The observed growth momentum, as explained by Rank’s leadership, position the company favourably amid anticipated land-based legislative reforms set for 2025, which are expected to bring further opportunities within the sector. O’Reilly comments on the company’s strengthened and sustainable business model, marking this period as a pivotal time in their operational strategy.
Rank Group’s strategic advancements and strong financial performance highlight its robust position in a recovering gambling market.
