Like-for-like net gaming revenue for the three months to March 31 reached £205.4 million ($278 million), while revenue for the first nine months of the financial year rose 6% to £625.2 million ($848 million).
The company expects a like-for-like operating profit of £68 million ($92 million) for the 2025–26 financial year, ahead of £63.7 million reported in 2024–25, and reiterated its medium-term target of generating at least £100 million in operating profit.
“It was pleasing to see continued revenue growth across all businesses and strong profit conversion in Q3, despite a tough macroeconomic backdrop,” said Richard Harris, Interim Chief Executive of Rank Group. “The results demonstrate the resilience of the business, the strength of the customer proposition, and the growth initiatives we have in place.”
Rank’s Grosvenor Casinos division remained its largest contributor, generating £95.0 million in revenue, up 5% year-on-year. Gaming machines were the fastest-growing segment, with revenue up 10%, following the rollout of around 850 additional machines after regulatory changes in the UK.
The company is also expanding in-person sports betting, with rollouts underway at 38 of 50 venues and trials taking place in Luton, Leicester, and Reading.
Digital revenue rose 4% to £60.9 million, although growth in the UK was limited to 2%. This was partly offset by stronger performance in Spain, where revenue increased 14%.
However, the digital segment faces pressure from higher taxes after the UK Remote Gaming Duty increased from 21% to 40%, with Rank estimating an annualised impact of around £46 million before mitigation. The company has taken steps, including reducing headcount, cutting marketing and sponsorship spending, and renegotiating supplier agreements, while maintaining investment in performance marketing and customer incentives.
“Having implemented the actions required to mitigate much of the impact of higher RGD in our UK digital business, and with clear plans in place to drive sustainable revenue growth, the group is well placed to deliver the medium-term objective of generating at least £100 million operating profit,” Harris said.
Rank’s Mecca bingo business reported revenue of £37.8 million, up 5% year-on-year, and is expected to benefit from the abolition of bingo duty, which is forecast to save around £6 million annually and support double-digit operating profit growth.
In Spain, the Enracha business posted revenue of £11.7 million, up 9%, driven by a continued “strong” performance of gaming machines, where revenue increased 27%.
The company cautioned that the conflict in the Middle East will create “ongoing uncertainty” around international travel, but it expects revenue growth to continue in the fourth quarter.
Analysts at Regulus Partners argued Rank needs to support the investment in its land-based business “while ensuring that customers are not disappointed online by a me-too offer”, adding, “This will require investment more than mitigation. ”
Analysts at Peel Hunt said: “We could upgrade our forecasts by more, but we remain uncertain about the impact of increased UK remote gaming duty. However, we still see a clear route to over £100m of operating profit as investments continue to pay off.”
Shares in Rank rose 12.27% to 101.50 pence following the update.
Dingnews.com 16/04/2026