Rank Group Plc trades with confidence as both its venue and digital business segments maintain revenue and Key Performance Indicator (KPI) growth. This morning the London Stock Exchange (LSE) gambling group published its Q3 2023/2024 trading statement (period ending 31 March), informing investors that year-to-date net gaming revenues (NGR) stand at £555m, up 8% on 2022/2023 comparatives of £512m. Headline …
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Rank returns interim profits against tough UK headwinds
Rank Group Plc has returned statutory profits against continued ‘UK macro headwinds’ impacting the performance of its land-based gambling units. Publishing its H1 2023/2024 interim results for the period ending 31 December, the LSE gambling group registered a 9% increase in corporate net gaming revenues (NGR) of £362m (H1 2022/23: £332m). Citing strengthened all-round operating efficiencies, interim trading saw Rank …
Read More »Rank Group nets Q1 all unit growth against tough UK environment
Rank Group Plc continues to navigate a challenging UK business environment, but remains confident in achieving 2023/24 full year revenue and profit growth in line with expectations. Publishing its Q1 2023/24 trading update, the LSE gambling group recorded an 11% increase in like-for-like net gaming revenue (NGR) to £179m. A positive start to year trading saw Rank record NGR growth …
Read More »John O’Reilly: Rank is a clear winner of White Paper changes
“The White Paper was worth the wait,” Rank Group CEO John O’Reilly informed SBC after the publication of the firm’s financial results for 2022/23, when quizzed about his confidence in the post-Gambling Act review landscape. Whilst some operators – particularly those with a focus on sports betting – have expressed dissatisfaction with the review’s proposed reforms and a lack of …
Read More »Rank books £109m statutory loss in cold 2022/2023
Rank Group Plc has achieved its 2022/2023 corporate targets, overcoming the challenges of a financial year featuring peak energy costs, wage inflation and regulatory changes impacting its business. Publishing its preliminary 2022/2023 results (12 months ending 30 June), Rank Group declared an underlying operating profit for full-year trading of £20.3m. The bottom-line result is lower than the prior 2021/2022 financial …
Read More »Rank recruits Mark Harper as MD of Grosvenor Casinos
Rank Group Plc has confirmed the appointment of Mark Harper as Managing Director of Grosvenor Casinos. Harper will take on the position overseeing Rank’s flagship casino unit from Monday 14 August and will join the executive committee of the LSE gambling group. An expert in the management of mass-market leisure and hospitality businesses, Harper joins Rank having previously served as …
Read More »Rank promotes ‘proven talent’ Jon Martin to COO
Rank Group Plc has promoted Interactive MD Jon Martin to the position of Group Chief Operating Officer (COO), confirming that he will assume the role during the summer. A five-year executive of Rank, Martin has led multiple divisions of the LSE gambling group including its Aspers Online brand and International operations. In his new position, Martin will maintain his role …
Read More »Rank sees Q3 growth boost year-end earnings
Rank Group Plc expects its full-year 2022/2023 earnings guidance to fall within the ‘upper end of expectations’ following robust Q3 trading as group-wide efficiencies benefit both land-based and online trading. The LSE-listed gambling group reported improved financial results for the Q3 period ending 31 March 2023, with a 13% like-for-like increase in net gaming revenues (NGR) to £174m. Significantly, period …
Read More »Rank books losses of £101m to overcome cold interim for UK venues
Rank Group Plc has declared that its business remains stable, despite recording statutory losses of £101m due to post-pandemic headwinds impacting its UK venues. Publishing its Interim 2022 results (six months to 31 December), Rank achieved group underlying net gaming revenues (NGR) of £337m, up 2% on like-for-like 2021 results of £330.5m. Interim trading saw Rank Digital generate a 9% …
Read More »Rank issues profit warning on Grosvenor frozen performance
Rank Group Plc has issued a profit warning, alerting investors of weaker-than-anticipated results impacting its Grosvenor casino venues. Providing an update on its trading performance for the five months to 30 November, the LSE gambling group reported that a decline in Grosvenor performance had wiped out group growth. “Whilst there has been some improvement in Grosvenor’s trading over the last …
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