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.
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