Rank Group Q3 revenue uptick supported by 154% digital growth
Rank Group Achieves 10.9% Boost in Group Net Gaming Revenue, Highlighting Strong Digital Performance
In a robust display of growth, Rank Group has announced a 10.9% increase in net gaming revenue for the third quarter of its financial year ending March 31, 2025. This impressive performance is largely attributed to exceptional growth in its digital channels, which experienced a remarkable triple-digit revenue surge.
During this quarter, Rank reported total revenues of £195.6 million (€228.9 million/$251.3 million), a figure that significantly outperformed the £182.3 million recorded in Q3 of the previous fiscal year. This growth marks a pivotal moment as Rank adapts to the rapidly evolving landscape of the gambling industry.
Rank Group’s Grosvenor UK land-based casinos continue to be the leading revenue contributor, generating £90.4 million in Q3, reflecting a 13% increase. This increase is underpinned by a notable 14.5% rise in revenue from table games and a 9.5% growth in electronic roulette revenues, showcasing the enduring appeal of traditional gaming venues in a digital-first market.
Meanwhile, revenue from Mecca, Rank’s chain of land-based bingo venues, increased by 1.9%, reaching £36.6 million. Although customer visits dipped by 1.8%, the average spend per visit rose by 3.8%, highlighting a trend towards increased customer spending even in the face of declining foot traffic.
Digital Growth Soars in Q3 Despite Challenges in Spain
The company’s digital segment experienced impressive growth, with revenues soaring 154% to €58.4 million during the quarter. Specifically, digital revenue in the UK rose by 18.3%, driven by a remarkable 43.2% increase in online revenues generated through the Grosvenor brand. This underscores the success of Rank’s strategic investments in enhancing its digital offerings and user experience.
However, Rank’s digital operations faced challenges in Spain, where revenues declined by 2.9%. The company remains optimistic about returning to growth in this market, projecting improvements by mid-2025-26, bolstered by a series of enhancements to its platform and overall customer proposition.
In Spain, Rank’s Enracha venues reported a revenue increase of 4.1%, amounting to £10.2 million, reflecting localized strategies that have effectively resonated with customers.
Year-to-Date Revenue Exceeds £597.4 Million
Analyzing the year-to-date performance, Rank’s total revenue for the nine months leading up to March 31 reached £597.4 million, which marks a 12.2% increase compared to the same period last year. Grosvenor casinos led the revenue generation efforts with £283.2 million, a 14.4% year-over-year growth. Similarly, Mecca venues reported a 4.8% increase in revenue, totaling £105.2 million.
Rank’s digital segment also demonstrated resilience, reporting a 14.7% increase to £178.6 million. Furthermore, revenue from Enracha venues in Spain climbed 5.9%, reaching £30.4 million, which indicates successful market strategies and consumer engagement.
CEO John O’Reilly Highlights Growth Amid Uncertainty
In light of these results, Rank CEO John O’Reilly addressed the company’s performance during these “uncertain” economic times. He acknowledged the current economic climate and the impending regulatory changes concerning land-based gambling in the UK, which pose both challenges and opportunities for the industry.
“Since our interim results announcement in January, we’ve continued to deliver robust growth and anticipate that our group will achieve like-for-like operating profit for the entire year as anticipated,” O’Reilly stated. He emphasized the probability of government disclosure regarding statutory reforms for land-based casinos in the imminent weeks, predicting the rollout of additional machines and sports betting to commence by summer.
Rank Group is scheduled to announce its full-year results on August 14, providing further insights into its ongoing strategic initiatives and performance amid a transforming landscape within the global gambling sector.
