Rank Group (RNK) Trading Update summary

Trading performance

• Group like-for-like Net Gaming Revenue (NGR) grew 12% to £197.5m in Q1 2024/25, with digital NGR up 15% and venues NGR up 10%.

• Grosvenor venues NGR rose 13%, driven by a 2% increase in visits and 11% higher spend per visit, with consistent improvement across all regions.

• Mecca venues NGR increased 4%, as a 5% rise in spend per visit offset a 1% decline in visits; visitor volumes improved late in the quarter.

• Enracha venues delivered 9% NGR growth, maintaining strong performance.

• UK digital brands Grosvenor and Mecca saw NGR up 21% and 23% respectively, with both UK and Spanish digital operations up 15%.

Outlook and management commentary

• Strong start to the financial year, with confidence in delivering group like-for-like operating profit in line with expectations.

• Management highlights double-digit growth in Grosvenor venues and UK digital business as particularly encouraging.

• Ongoing improvements across land-based and digital offerings are resonating with customers.

• Anticipation of land-based legislative reforms in 2025 to further support business sustainability.

Forthcoming announcements

• Interim results for the six months to 31 December 2024 will be announced on 30 January 2025.