SBC News Voice of the Sports Betting Industry
Rank Group Plc maintains full confidence in realising its headline financial objective of achieving full-year operating profits.
The LSE-listed gambling group has reported a robust Q3 2024/2025 trading performance (quarter ending 31 March), delivering growth across its land-based venues and digital channels.
A snapshot of Q3 results saw Rank achieve net gaming revenues of £196m (+11%), with year-to-date income standing at £597m, up 12% on YTD 2023/2024’s figure of £533m.
Period trading saw Grosvenor venues generate an NGR contribution of £90m, with Rank noting a strong customer reaction to new investments and upgrades in table gaming and electronic roulette.
On a year-to-date basis, Grosvenor remains Rank’s biggest revenue-generating unit, providing an income of £283m, up 15% on 2023/2024’s £247m.
Retail challenges were observed at Mecca Bingo, which experienced a decline in customer visits, down by 1.8%. However, footfall declines were offset as Mecca venues recorded a 4% increase in customer spend per visit, helping the unit achieve a Q3 NGR contribution of £37m.
Rank acknowledges that it is addressing Mecca’s challenges, as the brand maintains a slower growth profile compared to other units. Year-to-date income stands at £105m (YTD 2023/2024: £100m).
Period trading also highlights Rank Digital as the ‘key growth channel’, with online brands generating an NGR of £58m (+16%). Online growth is led by Grosvenor, the standout performer in Rank’s digital portfolio.
Leadership underlines the significance of Rank Digital’s growth, with a YTD income contribution of £178m, up 15% on the 2023/2024 result of £155m, as the channel continues to deliver growth during a period of adjustments for UK online gambling operators.
Group CEO John O’Reilly said: “Since announcing our interim results in January, we have continued to deliver strong growth and expect to deliver Group like-for-like operating profit for the full year in line with expectations.”
Leadership continues to target a return to operating profit, following back-to-back statutory losses of £16m in 2023/2024. This was despite its units generating an underlying profits of £46m in the face of a £123m loss in 2022/2023 due to significant UK venue impairment costs.
The remainder of the year will play out against a drastically changed economic environment, as Rank and other UK land-based gambling operators await key regulatory developments on venue reforms promised by the White Paper recommendations of the Gambling Review .
John O’Reilly concluded: “This is notwithstanding the uncertain economic environment and the significant cost and regulatory headwinds that we face from the start of Q4 (1 April 2025). We expect the Government to publish the statutory instruments for land-based casino reforms in the coming weeks and anticipate the roll-out of additional machines and sports betting to commence during the summer.”
