Rank Group Plc delivered a strong first half of 2024/2025, with underlying net profits up 50% to £33m. Group revenues hit £402m, a 13% increase from £356m last year.
Grosvenor performed above expectations, generating £215.3m, a 15% rise, while Digital revenue climbed 14% to £120.2m. Mecca venues also saw steady growth, up 6% to £66.3m, driven by targeted investments in gaming areas and customer experience improvements.
Profit after tax jumped 228% year-on-year to £28.9m. Net cash rose 38% to £24.2m, while net debt fell 23% to £111.8m.
Digital expansion played a crucial role in this growth, with new Grosvenor and Mecca apps boosting engagement and revenue. Rank expects digital revenues to keep growing at an 8-12% CAGR. The company has also improved its digital offering with better user experiences and personalised promotions, strengthening its position in the online gaming market.
In December 2024, Rank completed the £7.5m sale of its UK digital multi-brand business, securing a £3.0m upfront payment, with £4.5m payable over three years.
This sale aligns with Rank’s focus on core proprietary offerings and higher-margin digital platforms. The move frees up resources to expand flagship brands and enhance customer engagement through new technology.
CEO John O’Reilly remains optimistic despite regulatory challenges and rising employment costs. “Customers are responding positively to our investments in digital and venues. We’re confident that revenue growth and cost efficiencies will keep us on track.”
Rank continues to invest in safer gambling initiatives and regulatory compliance to build long-term sustainability. Enhanced risk management, advanced customer verification tools, and staff training are in place to promote responsible gaming. These measures reflect Rank’s commitment to a secure gambling environment while aligning with industry regulations.
Rank is preparing for the UK’s land-based legislative reforms, expected in summer 2025, with a programme of venue and product improvements. The company is modernising its casino venues, introducing new gaming technology, and improving customer service to attract a wider audience. These efforts aim to strengthen Rank’s land-based operations while complementing its digital growth.
“We are ready to capitalise on land-based legislative reforms and improve the customer experience,” O’Reilly added. “Thanks to our teams across Rank Group for delivering these strong results.”
Looking ahead, Rank is focused on maintaining growth by improving operational efficiencies, using data-driven insights, and enhancing both digital and physical gaming experiences. The company expects continued revenue growth through organic expansion, product innovation, and customer-focused improvements, positioning itself strongly in an evolving gaming market.
