Rank Group has lauded a positive period of growth, as UK casino engagement fuelled a net gaming revenue (NGR) increase of 12% to £197.4m.
For the group’s first quarter reporting period, ending 30 September 2024, Rank saw a 10% increase in land-based NGR, as Grosvenor saw a 13% increase in NGR to £95.3m.
The group underlined that the boost was felt nationwide, in London and other venues, as overall spend per visit was elevated by 11%.
John O’Reilly, Chief Executive, commented: “We have continued to build on the momentum that we have generated over the past year and a half, and I am very pleased with our start to this financial year.
“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. Rank is now a stronger and more sustainable business, and we are looking forward to the land-based legislative reforms coming to fruition in 2025.”
There was also significant growth for the firm’s Mecca operations, as th NGR of venues grew by 4%, driven by a 5% increase in spend per visit with visits down 1%.
Furthermore, for its two flagship brands, Mecca and Grosvenor overall digital NGR rose by 15%, as both brands enjoyed significant engagement.
It continues a period of significant momentum for the group as it continues to navigate challenging UK headwinds to report profit.
Two years ago, the firm’s overall annual NGR was reported at £622.3m, rising to £671.4M and then again to £734m in its most recent yearly results, underlining a period of strong trajectory for the group.
Rank Group has continued to welcome white paper changes, with David Williams, Director of Public Affairs at Rank Group, previously emphasising that reform “cannot come a moment too soon”.
One of the key elements he pinpointed, was enabling casinos being able to offer sports betting and electronic payment methods – the implementation of these proposals must be timed correctly.
“At the top of the tree is the long-overdue change to gaming machine allocations. Casinos will also be able to offer sports betting, whilst electronic payment methods (rather than the current over-reliance on cash in our clubs) will help to give customers a more contemporary casino experience and one which is the norm almost everywhere else in the world.
“These improvements cannot come a moment too soon and it is precisely why the industry is urging the Government to keep its foot to the floor in delivering their response to the land-based consultation, laying the necessary statutory instruments and getting the legislation delivered in the first half of 2024. It all takes time, and whilst timing is everything, we are not blessed with time on our side.”
