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Rank Group experiences slight revenue fall

rank revenue decrease
The company experienced a slight decrease in group revenue.

The Rank Group has revealed that revenues decreased 0.25% year-on-year in the first six months of the year.

UK.- The Rank Group released this week its financial results detailing the operations for the first six months of the year. The company experienced a slight decrease in group revenue, while the digital segment registered a double-digit increase.

The Rank group revenue decreased 0.25% year-on-year to £729.5 million in the first six months of 2019. On the other hand, digital revenue experienced an 11% rise to £105.5 million. These results come even when Grosvenor and Mecca experienced a group even fall of 3% to £353.2 million and £202.1 million respectively.

John O’Reilly, CEO of Rank, highlighted both the first half and full fiscal year results. “The transformation programme is pivotal to our growth strategy both in the UK and internationally.”

“We’re happy by the important initiatives implemented across each of our businesses. We have made a good start to the transformation of Rank and there remains a lot of improvement to be delivered,” he said.

Rank Group and Kambi extend Spain deal

Kambi and Rank Group have agreed on a multi-year extension to their sports betting partnership. The deal will also see Kambi provide its award-winning Sportsbook to Rank’s Spain-facing Enracha brand.

The agreement marks the first contract renewal between the two parties. Kambi and London-listed Rank combined in 2016 to add a high-quality online sportsbook to Rank’s leading UK casino brand, Grosvenor.

In addition to an extension of terms with Grosvenor, Rank will later this year leverage Kambi’s scalable technology and vast experience in the Spanish market to launch a localised online sports betting product for its Enracha bingo-led brand.

Rank also plans to utilise Kambi’s sophisticated API functionality and open platform to develop the sportsbook frontend, which will empower the operator to deliver bespoke sports betting experiences to its growing base of players.

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