The Rank Group has released its preliminary results for the financial year ended 30 June 2025, reporting strong growth in revenue and profit driven by strategic investment in casinos, digital, and bingo operations. The company also highlighted the historic opportunity created by the long-awaited UK casino reform, approved in July.
Financial Highlights
Group like-for-like (LFL) net gaming revenue (NGR) rose by 11% to £795.3m, while underlying LFL operating profit increased 38% to £63.7m. Profit before tax jumped 248% to £53.9m, with net profit up 272% to £44.6m. Free cash flow remained steady at £27.7m, and net debt fell slightly to £130.8m. The board proposed a full-year dividend of 2.60 pence per share, up 206% year-on-year. Return on capital employed improved to 14.5% from 10.3% in FY2023/24.
Performance by Division
Grosvenor Casinos delivered NGR of £378.4m, up 14%, with stronger growth outside London (+17%) than in the capital (+9%). Trading in London was impacted by the ongoing refurbishment of the flagship Grosvenor Victoria Casino (The Vic). Investment in product, table management, and electronic terminals has boosted margins and prepared Grosvenor for regulatory changes.
Mecca Bingo generated LFL NGR of £140.3m, up 5%. Customer spend per visit rose by 5%, although visits were flat. Following selective closures, Mecca now operates 50 clubs and is focused on cash generation and efficiency. Rising labour costs impacted margins, and Rank is calling for the UK Government to extend elements of the reform to the bingo sector.
Enracha in Spain reported LFL NGR of £40.9m, up 9%, with growth in both visits (+3%) and spend per customer (+6%). Recent refurbishments in Seville and Sabadell have delivered strong results, and further projects are planned in Madrid and Córdoba.
Digital operations delivered LFL NGR of £235.7m, up 10%. UK digital revenue rose 12%, led by Grosvenor and Mecca online. The group has now exited its non-proprietary multi-brand division to focus fully on proprietary technology. Rank also confirmed plans to launch in Portugal, becoming the first licensed operator to offer online bingo in the country.
UK Casino Reform: A Turning Point
The new UK casino reform, effective from 22 July 2025, is set to transform the sector. Key measures include:
The addition of 850 new gaming machines across the estate in FY2025/26, expanding Grosvenor’s total machine base to over 2,200 units.
The introduction of sports betting in 38 casinos, with dedicated areas and 350 self-service betting terminals to be installed during the first year.
Rank described the reform as a “historic hinge” moment for the industry, expanding customer choice and broadening the casino experience.
Safer Gambling and Sustainability
Rank highlighted progress with its proprietary Hawkeye platform, now fully integrated across digital operations to provide real-time player risk monitoring. The system received a European award for safer gambling innovation.
On sustainability, the group cut over 5,500 tonnes of CO? emissions during the year and raised more than £400,000 for Carers Trust.
Management Statement
John O’Reilly, Chief Executive of Rank Group, commented:
“We have delivered another successful year, exceeding our revenue and profit expectations. With the implementation of long-awaited casino reforms, Rank is at a hugely exciting inflection point. The expansion of machine capacity, the introduction of sports betting, and the continued growth of our digital business position us strongly for the future.”
Outlook
The new financial year has started positively, with NGR up 9% in the first six weeks of FY2025/26. Rank reiterated its strategic ambition to achieve £100m of annual operating profit in the medium term, underpinned by growth across all channels.
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