Published
CasinoFinancial

Rank Group announces fall in revenue despite digital boost

Rank Group has announced a 4.9% fall in year-on-year revenue for the 16-week period ending 14 October, excluding the performance of its May 2018 acquisition YoBingo.

rankgrouprevenue

The operator, which will announce a full trading update including revenue figures at its Annual General Meeting later today, saw digital revenue grow by 1.7%.

However, this was offset by a year-on-year fall in retail revenue of 6.1%, with Grosvenor Casinos suffering a 7.2% decrease and Mecca seeing its revenue fall by 5%.

Mecca did see revenue growth of 6.4% on its digital channels, although Grosvenor Casinos’ online revenue also fell 5.2% year-on-year.

Rank Group did not include YoBingo in its overall digital revenue numbers, which saw year-on-year revenue rise sharply by 46%. With these figures taken into account, Rank Group’s digital revenue grew 13.5%.

The company’s retail revenue decline has been a consistent theme, with Rank Group previously reporting a 41.4% year-on-year decrease in profit before tax for the financial year ending 30 June.

This was attributed to “disappointing performance” from Grosvenor Casino, while emphasis was placed by CEO John O’Reilly on a more digital focus going forward.

This year has also been a time of restructure for Rank Group, with O’Reilly himself only being appointed in April and overseeing changes in the senior management team.

The operator was recently fined £500,000 ($657,400) after a customer lost £1m in just 24 hours at Grosvenor Casino in 2016.

Premium+ Connections
Premium
 
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Ainsworth Game Technology
Seneca Gaming Corporation
Isle of Man Gambling Supervision Commission
Gaming Inspection and Coordination Bureau (DICJ)
Follow Us

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the Lead Partner

A message from BetConstruct - Lead Partner of the Global Gam...

The year in review

The Event Manager of the Global Gaming Awards reviews the mo...

Casino Operator of the Year 2025

We present to you the 2025 Shortlist for the Casino Operator...

Facing facts: FY revenue figures reflect a turbulent '24

Who soared high and who fell behind in 2024? Gambling Inside...

Taking stock: Moving through to Q2

Gambling Insider tracks online casino operator and supplier...

Preview: This year's Global Gaming Awards Asia-Pacific and Americas

It’s that time of year once again, as the Global Gaming Aw...

Costa Rica: Effective regulation is the industry's path forward

Gambling Insider Senior Staff Writer Beth Turner spoke with...