Rank Group revenue enjoys quarterly rise

RANK GROUP REVENUE
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Rank Group saw a one percent revenue increase for the three months up to 31 March.

Rank Group, owners of the Mecca Bingo and Grosvenor Casino brands, announced the rise as it updated investors on performances during the third fiscal quarter.

Whilst Rank Group saw an increase in overall revenue like-for-like revenue for the period remained flat.

At the group’s Mecca Bingo venues sales slipped by one percent year on year, this was  offset by an increase in average per-visit spend.

Meanwhile Grosvenor Casino revenues came in flat on 2018, a sign of improvement after two consecutive quarters of small declines.

As has been the trend in recent times the group saw year-on-year gains across its digital sectors. Total gross gaming revenues increase by two percent across Rank Group’s online arms on the same period last year. This however represents a marked decrease on the eight percent growth experienced in FY Q2.

Reflecting changing player habits the Mecca digital brand saw net gaming revenue rise by 10 percent whilst gross remained flat.

Grosvenor online services saw the greatest gains with gross gaming revenues up six percent and net 15 percent.

In the investor update Rank Group announced the upcoming departure of chairman, Ian Burke and additions to its board.


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