Casino group Rank sees digital growth outstrip retail

Home » Casino group Rank sees digital growth outstrip retail

Operator Rank saw its digital net gaming revenue (NGR) climb 13 per cent but revenue from its gaming venues fall two per cent to £165.7m in Q3, 2022.


The group’s digital NGR grew by 13 per cent in the quarter with its UK business up 13 per cent and its Spanish operations up 12 per cent.

Grosvenor digital NGR was up 25 per cent and, the group said, it has continued to perform well post its successful migration onto the proprietary RIDE platform at the start of September. Meanwhile its Mecca brand’s digital NGR was up one per cent. Rank’s remaining UK digital business was up 23 per cent, “with particularly strong growth in the Stride brands on the RIDE platform.”

Its Grosvenor venues saw visits grow in the quarter, but with lower spend per visit, leading NGR to fall by 5 per cent. Its London venues performed strongly, the group said, with NGR up 21 per cent, driven by a 20 per cent increase in customer visits.

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“This was more than offset by a 17 per cent NGR decline from our venues outside of London where customer spend levels were weaker. Average weekly NGR in the quarter was £5.7m, down 5 per cent on the comparable period but up 12 per cent on Q4 2021/22,” the company stated.

Rank’s Mecca venues’ like-for-like NGR grew by two per cent in the quarter, driven by a four per cent increase in customer visits offsetting a 2 per cent decline in spend per visit.

The group said consumer spending would remain under pressure with rising cost of living expenses and inflation. It said rising energy costs would continue to impact its retail business with higher staff costs and supply chain pressures pushing up costs.

John O’Reilly, chief executive, said: “Whilst it is a challenging trading environment and we expect this to continue in the months ahead, we remain committed to delivering Rank’s market leading, exciting and entertaining proposition to our customers. The group has a number of key initiatives underway to improve long-term revenues. These include some key refurbishment projects and new electronic roulette and jackpot games in Grosvenor; improving the gaming machine offering in Mecca; increased personalisation and a stronger live casino offering in the UK digital business and the recent launch of Yo Sports in Spain. The group has the benefit of a strong balance sheet, enabling us to continue investing in the business through this period.”

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