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10 Apr 2025 07:00
The Rank Group PlcLEI: 213800TXKD6XZWOFTE12
10 April 2025
Q3 2024/25 trading update
Ongoing growth and momentum across all businesses, with land-based reforms on the horizon
Group overview: Group like-for-like Net Gaming Revenue ('NGR') for the third quarter ended 31 March 2025 ('Q3') grew 10.9% to £195.6m, with year to date NGR up 12.2% on prior year. On a channel basis, digital like-for-like NGR for Q3 was up 15.4% and venues like-for-like NGR was up 9.1%.
LFL NGR | Q3 2024/25 £m | Q3 2024/25 YoY change | YTD 2024/25 £m | YTD YoY change |
Grosvenor venues | 90.4 | 13.0% | 283.2 | 14.4% |
Digital | 58.4 | 15.4% | 178.6 | 14.7% |
Mecca venues | 36.6 | 1.9% | 105.2 | 4.8% |
Enracha venues | 10.2 | 4.1% | 30.4 | 5.9% |
Group | 195.6 | 10.9% | 597.4 | 12.2% |
Grosvenor venues like-for-like NGR grew 13.0%, driven by strong performance in table gaming, +14.5%, and electronic roulette, +9.5%, both of which continue to deliver the benefits from the positive customer reaction to the investment we have been making in our product.
Digital like-for-like NGR growth continued to be strong in the UK business, growing by 18.3%, with the Grosvenor brand, +43.2%, the stand-out contributor to the performance. In Spain, NGR was 2.9% lower than the prior year; we expect the developments we are making to the platform and customer proposition to return it to growth in H1 2025/26.
Mecca venues like-for-like NGR grew 1.9% in the period. Customer visits were down 1.8% on prior year, but spend per visit was up 3.8%. Year to date growth is 4.8%.
Enracha venues continued to perform strongly with Q3 like-for-like NGR growth of 4.1% and year to date growth of 5.9%.
John O'Reilly, Chief Executive, 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 (1 April 2025).
We expect the Government to publish the statutory instruments for land-based casino reforms in the coming weeks and anticipate the roll out 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."
Rank will announce its preliminary results for the 12 months ending 30 June 2025 on 14 August 2025.
Ends
Contacts:
Rank
David Williams - corporate affairs & investor relations Tel: +44 1628 504 295
Media Enquiries:
FTI Consulting LLP (PR adviser to Rank)
Edward Bridges Tel: +44 20 3727 1067
Alex Beagley Tel: +44 20 3727 1045
Notes to editors:
1. NGR represents Gross Gaming Revenue after customer incentives.
2. Like-for-like excludes the effects of club closures, foreign exchange movements and business disposals.
3. All comparisons are with the same period in 2023/24.
4. Q3 is for the period 1 January to 31 March. Q3 2023/24 had 91 days and Q3 2024/25 had 90 days.
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