Top Rankin’: Rank Group Reports Impressive Q1 Surge In NGR

Rank Group, owners of iconic British gambling brands Grosvenor Casinos and Mecca Bingo, has reported an impressive surge in Net Gaming Revenue (NGR) for its financial Q1, ending September 30.

Group NGR rose 11 percent, year-on-year, to £179.6 million over the quarter.

Revenue at Rank’s Grosvenor and Mecca Venues climbed 12 percent to £127.8 million, compared to Q1 2022.

Grosvenor Casinos revenue grew 13 percent to £84.2 million, while NGR at Mecca Bingo climbed 11 percent.

Customer visits and spend-per-visit were up across the Rank Group gaming board.

Rank’s Spanish vertical, Enracha bingo, also saw significant, year-on-year, retail growth of nine percent to £9 million and digital growth of 15 percent in Q1.

Momentum

Back in Britain Rank’s iGaming performance was equally strong: Grosvenor and Mecca climbing 14 percent and nine percent, respectively.

“I am pleased to report that Rank has made a strong start to the year,” said Rank Group CEO John O’Reilly.

“After an encouraging second half of 2022/23, we have maintained the momentum through the first quarter of 2023/24 and have made good progress in driving revenue and profit growth across the group.

“We remain focused on delivering the key growth initiatives within our digital business and preparing our UK venues for the critical modernising reforms in the Government’s Review of gambling legislation.

“These reforms, which are planned to be implemented by next summer, will help Grosvenor and Mecca to better meet the needs of our existing and prospective customers,” asserted O’Reilly.