Rank Group shows solid growth in half-year report
Rank Group grew its underlying net gaming revenue (NGR) by 10% year-on-year for the six months ended 31 December 2019, to £377.5m ($490.2m).
Underlying operating profit increased 70% to £55.1m, with the full-year amount – taking into account the forecast for the next six months – expected to be between £105m and £115m.
Digital NGR went up 14% to £65.2m. Grosvenor Casino’s NGR grew 15% to £198.1m, but Mecca Bingo venues showed a 1% decrease to £89.6m.
The group acquired fellow operator Stride Gaming in October for £116m, which accounted for £18.1m of NGR and £1.4m of operating profit.
Rank Group CEO John O’Reilly said: “The revenue growth in our digital business and across our Grosvenor and Enracha venues shows that we are moving in the right direction in key areas of our business.”
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