Rank Group Plc expects its full-year 2022/2023 earnings guidance to fall within the ‘upper end of expectations’ following robust Q3 trading as group-wide efficiencies benefit both land-based and online trading.
The LSE-listed gambling group reported improved financial results for the Q3 period ending 31 March 2023, with a 13% like-for-like increase in net gaming revenues (NGR) to £174m [$216m].
Significantly, period gains reflected a 12% uplift in venue-based (Grosvenor + Mecca) NGR totaling £113m and a 16% increase in Digital NGR to £52.5m.
Grosvenor venues registered a 15% growth to £78m, attributed to a rise in visitor numbers and improved performance in both London and the rest of the UK. The group’s casino unit saw an average weekly NGR for the quarter stand at £6.1m.
