SBC News Voice of the Sports Betting Industry
Reporting on its H1 2015/16 performance (unaudited six month period ending 31 December), the governance of Rank Group Plc, stated that it was pleased with results as like-for-like group revenues rose 5% to £370 million (H1 2014/15 – £351 million)
Rank expects H1 2015/16 profits to be around the £46 million mark, up 11% on H1 2014/15 corresponding performance (£41.7 million).
Detailing its improved performance, Rank governance noted the strong momentum of its Grosvenor Casino and Mecca Bingo retail divisions which had seen respective revenue growth of 7% and 2%.
The operators improved H1 2015/16 retail performance had been further supported by a 14% revenue gain for its digital gaming division.
Looking ahead to 2016, Rank Governance further detailed that the company was on track to finalise its digital platform migration by the end of this quarter. The operator has signed new supplier contract terms for its online poker product and will look to launch a new sports betting offering in 2016.
Rank Group CEO Henry Birch commented on H1 2015/16 performance
“I am very pleased to announce a good set of results with like-for-like revenue growth across all brands and channels. Even with the impact of RGD we have delivered growth in both adjusted EPS, up 4%, and dividend, up 13%.”
“2016 will see us deliver significant new platforms, new functionality and new products – including a new digital platform, a new retail casino management system, new poker and sports betting products and a new retail bingo format – all of which will drive improvements across our company. It is extremely encouraging that ahead of these changes, we are continuing to grow all parts of our business. In particular, it is very pleasing to have grown Mecca’s retail bingo business, on a like-for-like basis, both at the top and bottom line, giving us renewed confidence in its future.”
Rank Group H1 2015/16 performance overview
