British casino and bingo operator Rank Group hails widespread growth as revenue rises 11% in Q1

British casino and bingo operator Rank Group hails widespread growth as revenue rises 11% in Q1

Article brief provided by iGaming Business
  • Robert Fletcher, iGaming Business
October 19, 2023 8:09 PM
  • Robert Fletcher, iGaming Business

Rank Group has posted an 11% year-on-year rise in revenue to £179.6m ($217.9m) in the first quarter, with growth across all its businesses.

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In a trading update, Rank says momentum from the second half of 2022-23 continued into Q1. The update spanned the three months to 30 September.

Rank says its Grosvenor venues business was its main source of revenue in Q1 at £84.2m, up 13%. The operator put this down to a 9% increase in visits and a 4% rise in spend per visit.

Net gaming revenue in London was up 8% on the previous year. However, this was higher for the rest of the UK, increasing by 16%. Rank also notes average net gaming revenue within this segment was up 10% to £6.4m.