Rank Group declared strong growth in its third quarter of 2024/25 trading statement but warned that several factors will impact results moving forward into 2025.
For its Q3, ending 31 March 2025, the group reported a 10.9% year-over-year uptick in net gaming revenue to £195.6m, with venue NGR rising by 9.1% against the same period the previous year.
Significant gains were achieved from digital and Grosvenor venue operations when compared to the same quarter last year, while Mecca and Enracha venues also saw slight growth.
Digital NGR increased by the largest amount, 15.4% YoY, to £58.4m. UK operations grew by 18.3%, while the Grosvenor brand rose notably by 43.2%.
However, Spain’s digital NGR was 2.9% down when compared to the same period last year, but Rank expects a return to growth in H1 2025/26 following customer proposition and platform developments. Year-to-date, digital NGR was up 14.7% to £178.6m.
For Grosvenor venues, NGR grew by 13% YoY to £90.4m following a strong table gaming and electronic roulette performance, which rose by 14.5% and 9.5% respectively.
The group noted that both table gaming and electronic roulette are continuing to provide a positive customer reaction following investment in the product. YTD, Grosvenor venue NGR was up 14.4% to £283.2m.
Mecca venues NGR in Q3 rose by only 1.9% YoY to £36.6m, as customer visits were down 1.8% against the previous year, but spend per visit was up 3.8%. YTD, Mecca venues NGR was up 4.8% to £105.2m.
Enracha venue NGR in Q3 increased by 4.1% YoY to £10.2m, while YTD, it rose by 5.9% to £30.4m.
Rank Chief Executive, John O’Reilly, reflected positively on the Q3 results, but highlighted that several factors will impact the group’s performance in the coming quarter as UK operators adjust to the Government’s regulatory changes from the Gambling Review White Paper.
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.
“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.
“A big thank you to my colleagues across the Rank Group for their continued commitment to enhancing the experience for our customers.”
Rank will publish its preliminary results for the 12 months ending 30 June 2025 later this year on 14 August.
