Rank Group increases revenues in 2H19

Rank Group increases revenues in 2H19

Rank Group has reported a 10% increase in net gaming revenue for the second half of 2019.

UK.- Rank Group has released its financial report detailing operations for the second half of 2019. During the six-month period, Rank Group registered a 10% year-on-year increase in net gaming revenue to £377.5 million.

Digital net gaming revenue rose 14% to £65.2 million, while Grosvenor Casino’s net gaming revenue increased 15% to £198.1 million. On the other hand, Mecca Bingo experienced a 1% stack to £89.6 million.

Underlying operating profit jumped 70% to £55.1 million, and the forecast for the following six months is likely to be between £105 million to £115 million.

Rank Group CEO John O’Reilly said: “The revenue growth in our digital business and across our Grosvenor and Enracha venues shows that we are moving in the right direction in key areas of our business. We remain on track and are confident in our ability to deliver operational and financial improvements underscored by a relentless commitment to delivering exciting, entertaining and safe gambling environments and experiences for our customers.

“The successful integration of Stride into our business will ensure that we benefit from strong synergies, proprietary technology and a first-class digital team, all of which will position us well for the second half of the year. These are a good set of numbers and are a testament to our committed and talented colleagues across the Group who have worked hard to deliver them.”

In this article:
finance uk