Rank Group Reports 69% Increase in Fiscal Q1 Revenue

By | October 15, 2021
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Rank Group has reported a 69% increase in revenue to £163.1m for its fiscal first quarter ended September 30.

On a channel basis, digital NGR grew by 5% and venues like-for-like NGR grew by 117% year-on-year. Grosvenor Casino venues grew by 209%, down 20% compared to the same quarter in 2019/20, before the impact of the Covid-19 pandemic.

Mecca bingo venues grew NGR by 41%, down 22% compared to the same quarter in 2019/20. Visit numbers and NGR have gradually improved through the quarter but visits from older and more frequent customers have been slower to return than other cohorts.

The UK digital business returned to growth in the quarter. Grosvenor digital grew NGR 12%, driven by the growth in revenue from omnichannel players following the reopening of the casinos. Mecca digital NGR grew by 6% and the migration of Mecca onto the RIDE platform remains on schedule for January 2022.

John O’Reilly, CEO of Rank Group, said: “We have seen an excellent response from our customers as they return to our venues, with our colleagues doing a great job in ensuring they are being properly entertained within a safe environment.

“While forecasting remains difficult as we emerge from the pandemic in an environment of volatile costs and numerous supply chain challenges, we are confident that trading will continue to improve across each of our businesses during the remainder of the year.”

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