Rank hails digital growth as revenue climbs

Rank Group has cited the impact of growth within its digital division as one of the main reasons behind a year-on-year rise in group revenue during the 16 weeks to October 15.

In a trading statement, Rank said that like-for-like revenue in the period was up 2%, with digital revenue climbing 19% and venue revenue dropping 1%.

Rank’s Grosvenor Casinos business saw venue revenue fall 1% in the 16 weeks, driven by a lower than average win margin, while revenue from Mecca venues also dropped by 2%.

However, digital channels at both the Grosvenor Casinos and Mecca businesses recorded growth, with revenue up 34% and 11%, respectively.

Rank said management expectations for the full year remain unchanged.

Meanwhile, Rank used the trading statement to offer details on the appointment of Alan Morgan as its retail managing director, a role that will encompass both the Mecca and Grosvenor Casinos businesses.

Rank said that the new structure will retain “distinct operations” for Mecca and Grosvenor, but also allow for “improved synergies and additional capability in key functions and roles”.

Morgan will have support from a leadership team that has been strengthened via the recent appointments of Debbie Husband as national operations director of Grosvenor; Olly Raeburn as chief marketing officer; and Darren Wainwright, as group property director.

In addition, Rank has confirmed that Martin Pugh, currently managing director of Grosvenor Casinos, will leave the business at the end of the year.

Related article: Rank Group sees pre-tax profits fall despite digital surge