10th Apr 2025 10:30
(Alliance News) - Rank Group PLC on Thursday said it has delivered "strong" growth during its current financial year to date, boosted by double-digit revenue growth during its third quarter.
Shares in Rank Group were up 3.7% at 80.90 pence in London on Thursday morning. The stock has risen 14% over the past year, giving it a market capitalisation of GBP388.8 million.
The Maidenhead, England-based casino operator said like-for-like net gaming revenue for the third quarter that ended March 31 rose 11% on-year to GBP195.6 million.
Year-to-date like-for-like net gaming revenue was up 12% from a year prior at GBP597.4 million, Rank Group added.
Its financial year is due to end on June 30, and the group expects to publish its full-year results on August 14.
LFL net gaming revenue for Grosvenor venues rose 15% to GBP58.4 million, jumping 18% for the UK Business and 43% for the Grosvenor brand.
Net gaming revenue in Spain declined 2.9% during the three-month period, though Rank Group expects it to return to growth in the second half of financial 2026 as a result of developments to the platform and customer proposition.
"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," said Chief Executive Officer John O'Reilly.
"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."
By Emily Parsons, Alliance News reporter
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