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NEWS 15 October 2019

Rank’s Q1 revenue climbs 8%, operator praises Grosvenor performance

By Matthew Enderby

Rank Group saw its gross gaming revenue rise 8% year-on-year for Q1 of 2019/20.

Its digital sector saw the highest growth, rising 15%, while Grosvenor revenues and international revenues increased 10% and 4%, respectively.

Rank described its Grosvenor land-based operations as its standout performer for Q1. It said this period is seasonally the strongest quarter and was lapping weak comparatives.

The operator said it has balanced the drop in maximum stakes on B2 gaming machines with strong volumes seen in table handle.

On 4 October, Rank completed the acquisition of Stride Gaming and has since commenced integration into its digital sector.

Stride’s Q1 net gaming revenue was down 15% year-on-year, to £16.3m ($20.6m).  

John O’Reilly, CEO of Rank Group, said: "The acquisition of Stride marks a pivotal moment in the development of our digital offering and, having completed on 4 October 2019, we are now starting the execution of all our plans for integration and delivery of synergy benefits."

RELATED TAGS: Online | Land-Based | Industry | Financial | Casino
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