Rank Group reports digital NGR of £58m in Q3 trading update
Online vertical increases 15% YoY as overall NGR comes to £195.6m, with bosses confident on the future despite regulatory headwinds in the UK coming in to play
Rank Group has recorded net gaming revenue (NGR) of £195.6m for Q3 2024-25, representing a 10.9% increase when compared to the corresponding period the previous year.
The London-listed business’ fiscal Q3 runs for the three months to 31 March 2025, with the omnichannel firm positing NGR growth across all major verticals.
In turn, Rank’s shares are up almost 4%, at the time of writing, to 81p. Over the past 12 months, the stock has risen 14%.
Digital accounted for £58.4m of the NGR total, up 15.4% year on year (YoY).
This was mainly due to the performance of Grosvenor Casino’s online arm, which enjoyed a 43.2% YoY NGR increase, as UK digital NGR rose 18.3%.
The company noted that digital NGR from Spain fell 2.9% YoY, with developments to both platform and customer proposition earmarked to help the region return to growth in H1 2025-26.
NGR from Grosvenor venues increased 13% YoY to £90.4m, with Mecca venues contributing £36.6m, up 1.9% YoY, and Enracha venues adding £10.2m, up 4.1% YoY.
In terms of the year-to-date (YTD) performance, group NGR hit £597.4m, an increase of 12.2% compared to the previous year’s first nine months.
Digital NGR YTD has increased 14.7% YoY to £178.6m. Grosvenor venues (up 14.4%), Mecca venues (up 4.8%) and Enracha venues (up 5.9%) also showed the growth in the land-based side of the business.
Rank Group CEO John O’Reilly confirmed the company is on course to deliver its forecasted operating profits by the end of the year as it awaits further regulatory changes in the UK market.
One such regulatory change – the £5 stake limit for online slots – officially came into effect yesterday, 9 April.
The company is also expected to hand over 1.1% of its digital GGR as part of the new statutory levy for operators later this year.
O’Reilly said: “Since announcing our interim results in January, we have continued to deliver strong growth and expect to deliver group like-for-like operating profit for the full year in line with expectations.
“This is notwithstanding the uncertain economic environment and the significant cost and regulatory headwinds that we face from the start of Q4, [which is] 1 April 2025.
“We expect the government to publish the statutory instruments for land-based casino reforms in the coming weeks and anticipate the rollout of additional machines and sports betting to commence during the summer.
“A big thank you to my colleagues across the Rank Group for their continued commitment to enhancing the experience for our customers.”