Published
Land-BasedCasinoIndustry

Rank Group revenue down 15% for 12 months to June

Rank Group’s financials for the 12 months ended 30 June 2020 show a 15% decline year-on-year in group underlying net gaming revenue (NGR), to £585.1m ($761m).

RankGroup

Underlying operating profit also fell by 32% to £51.1m, while earnings per share fell 54% to 7p.

Despite this, underlying digital net revenue actually saw significant growth. Revenue totalled £145.3m for the period, a rise of 23% from the prior year.

The casino operator attributes its decrease in revenue mainly to the effects of COVID-19 lockdowns. For the eight months prior to the pandemic, the company saw a year-on-year rise of 11% in its underlying NGR. Operating profit was also up by 61%.

Rank Group initiated a number of mitigating actions throughout the pandemic to limit the detrimental impact of casino shutdowns.

In April, Rank Group also joined forces with Blue Light Card and opened kitchens in 12 of its UK sites to offer free lunches to key workers.

Commenting on the results, John O’Reilly, CEO of Rank Group, said: “With the huge commitment and dedication of our colleagues, very tight cost control across the business and the support we have received from Government, we have carefully navigated the past few months and are now beginning to successfully emerge.

“We know the recovery will take time, but the underlying strength of our business provides us with confidence that we are well equipped to return to full strength.”

Premium+ Connections
Premium

RISK

 
Premium

PIN-UP Partners

 
Premium

Imagine Live

 
Premium

Lynon

 
Premium

1xBet Partners

 
 
Premium

Sport Generate

 
Premium

Revsharks

 
Premium

Digitain

 
Premium

GammaStack

 
Premium

Galaxsys

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...