Tag Archives: grosvenor

Rank returns interim profits against tough UK headwinds 

SBC News Rank returns interim profits against tough UK headwinds 

Rank Group Plc has returned statutory profits against continued ‘UK macro headwinds’ impacting the performance of its land-based gambling units. Publishing its H1 2023/2024 interim results for the period ending 31 December, the LSE gambling group registered a 9% increase in corporate net gaming revenues (NGR) of £362m (H1 2022/23: £332m). Citing strengthened all-round operating efficiencies, interim trading saw Rank …

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Rank Group nets Q1 all unit growth against tough UK environment

SBC News Rank Group nets Q1 all unit growth against tough UK environment

Rank Group Plc continues to navigate a challenging UK business environment, but remains confident in achieving 2023/24 full year revenue and profit growth in line with expectations.  Publishing its Q1 2023/24 trading update, the LSE gambling group recorded an 11% increase in like-for-like net gaming revenue (NGR) to £179m. A positive start to year trading saw Rank record NGR growth …

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Rank appoints Andrew Peat as new Interactive MD

SBC News Rank appoints Andrew Peat as new Interactive MD

Rank Group Plc has confirmed the forthcoming appointment of Andrew Peat as the new Managing Director of its Interactive business. Peat, who is expected to assume the leadership role later this year, will join Rank’s executive management team from William Hill, where he most recently served as Sportsbook Director from 2018 to 2023. Before joining the betting and gaming industry, …

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Rank books losses of £101m to overcome cold interim for UK venues 

SBC News Rank books losses of £101m to overcome cold interim for UK venues 

Rank Group Plc has declared that its business remains stable, despite recording statutory losses of £101m due to post-pandemic headwinds impacting its UK venues.  Publishing its Interim 2022 results (six months to 31 December), Rank achieved group underlying net gaming revenues (NGR) of £337m, up 2% on like-for-like 2021 results of £330.5m. Interim trading saw Rank Digital generate a 9% …

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Rank issues profit warning on Grosvenor frozen performance 

SBC News Rank issues profit warning on Grosvenor frozen performance 

Rank Group Plc has issued a profit warning, alerting investors of weaker-than-anticipated results impacting its Grosvenor casino venues. Providing an update on its trading performance for the five months to 30 November, the LSE gambling group reported that a decline in Grosvenor performance had wiped out group growth.  “Whilst there has been some improvement in Grosvenor’s trading over the last …

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Rank delivers positive Q1 against a frosty year outlook 

SBC News Rank delivers positive Q1 against a frosty year outlook 

Rank Group Plc maintains growth against tough macroeconomic headwinds impacting customer spending activity and the profitability of its UK gambling venues. This morning the LSE gambling group published its Q1 2022/2023 trading statement, registering a 2% increase in net gaming revenues (NGR) to £166m.   Headline growth was maintained despite Rank’s flagship Grosvenor Casino unit’s continued performance decline, in which Q1 …

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Unite to strike against Grosvenor London venues

SBC News Unite to strike against Grosvenor London venues

The trade union of Unite will strike against London Grosvenor Casino venues operated by Rank Group Plc this weekend.  Rank has been warned that Grosvenor employees who are members of the trade union voted unanimously in favour of taking strike action against seven venues in London. Unite stated that it carried the interests of 150 Grosvenor London staff members that …

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Rank returns full-year profits but signals choppy UK waters 

SBC News Rank returns full-year profits but signals choppy UK waters 

Rank Group Plc has hit its underlying year-end profit guidance of £40m, overcoming continued ‘softer trading conditions’ on its retail venues. The LSE gambling group’s preliminary results for the 12 months ending 30 June 2022, announced today, detailed continued footfall challenges for Grosvenor venues, in particular across London.  Group 2021/22 NGR totalled £644m, doubling corresponding 2021/20 results of £325m, yet …

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Rank Group identifies return to form for digital business in Q1 trading update

SBC News Rank Group identifies return to form for digital business in Q1 trading update

Rank Group has reported that its trading is ‘in line with expectations’, highlighting a return to growth for its digital business whilst its retail division has experienced significant expansion.  Publishing its trading results for the period ending 30 September 2021, Rank revealed a 5% year-on-year increase in net gaming revenue growth for its digital business whilst its retail division saw …

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Rank stomachs £93m lockdown loss as leadership eyes strongest venue returns

SBC News Rank stomachs £93m lockdown loss as leadership eyes strongest venue returns

Rank Group Plc has disclosed statutory losses of £93 million, as the LSE gambling group closes accounts on a year ravaged by COVID-19 headwinds.  Publishing its preliminary results for 2020/2021 trading (12-months ending 30 June) Rank registered a 50% decline in underlying net gaming revenues to £288 million. Year trading saw Mecca Bingo and Grosvenor Casino properties restricted to ‘59% …

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