Rank boosted by digital performance in first quarter

Rank Group has cited the performance of its digital business as the main reason behind a slight increase in revenue during the 15 weeks to October 9.

In a trading update, the company said that group like-for-like revenue in the period was up 1% year-on-year, with digital revenue climbing by 7% in the period and venues revenue down 1%.

The company’s Grosvenor Casinos revenue was down 1%, due to a lower-than-average margin and fewer customer visits, while Mecca venue revenue remained flat.

Rank said that the digital arm of its Grosvenor Casinos experienced a year-on-year revenue increase of 30% in the 15-week period and although the Mecca digital business fell 4%, trading in recent weeks suggests an upturn in fortunes.

Management’s expectations for the full-year remain unchanged, with the firm to announce its half-year results in January 26.

Related article: Rank targets digital growth after ‘solid’ year