Rank Group sees revenue jump in third-quarter

Finance News

Rank Group PLC said Thursday that like-for-like net gaming revenue for its fiscal third quarter ended March 31 was up 13% to 174.4 million pounds ($216.9 million) and that it now sees full-year profit at the upper end or slightly ahead of previous guidance.

The U.K. gambling group said it now sees underlying like-for-like operating profit for the full year to June 30 at the upper end or slightly ahead of the previously guided range of GBP10 million to GBP20 million.

Performance for the third quarter was driven by growth in visitor numbers and digital revenue.

“We are pleased that the momentum we saw at the start of the second half of our financial year has continued with positive NGR growth across all our businesses. Despite the challenging macroeconomic environment, the investments we have been making to improve the customer experience in our venues have helped drive the improved performance across both Grosvenor [Casinos] and Mecca [Bingo Clubs],” Chief Executive John O’Reilly said.