Rank results in line with expectations

The Rank Group has announced that trading is in line with expectations, with like-for-like net gaming revenue up 69 per cent for the quarter ended September 30.

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

Mecca bingo venues grew NGR by 41 per cent, down 22 per cent 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 per cent, driven by the growth in revenue from omnichannel players following the reopening of the casinos. Mecca digital NGR grew by six per cent and the migration of Mecca onto the RIDE platform remains on schedule for January 2022.  

John O’Reilly, CEO of Rank, 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.”