Home > Finance > Full year results > Rank Group forecasts 11% revenue hike in FY24-25

Rank Group forecasts 11% revenue hike in FY24-25

| By Robert Fletcher
Net gaming revenue at Rank Group is expected to reach approximately £795 million in the 2024-25 financial year.
Rank revenue

Rank Group expects group NGR to increase 11% during its 2024-25 financial year, while operating profit is also set to rise year-on-year.

The operator released a brief full-year trading update on Thursday, ahead of its FY24-25 results in August. The reported period concluded on 30 June 2025.

Preliminary figures suggested group like-for-like NGR will reach approximately £795 million ($1.08 billion) for the period.

Last year the operator reported a group NGR of £734.4 million, up 9% on the previous year.

Alongside this, Rank said it expected underlying like-for-like operating profit for the 12 months to be “at least” £63 million. Based on this figure, operating profit would be 35.5% higher year-on-year.

Rank operates the Grosvenor casino and Mecca land-based and digital brands in the UK, as well as Enracha venues in Spain. It is due to publish its preliminary results 2024-25 in full on 14 August.

“We have enjoyed a very strong year of earnings growth despite the significant cost and regulatory headwinds that we have faced from the start of Q4,” Rank CEO John O’Reilly said.

“The momentum experienced in the first three quarters has continued, with strong trading in Q4 resulting in our full-year underlying operating profit being ahead of expectation.”

‘Exciting inflection point’ for Rank

The regulatory-related costs mentioned by O’Reilly refer to land-based casino reforms in the UK which are due to come into effect from 22 July. These will see various changes made to the market.

Key points in the reforms include increasing the number of gambling machines permitted on specific floor spaces. This ranges from 25 machines for areas measuring 280 square metres to 80 machines for venues exceeding 500 square metres.

There are also provisions for the size of casino gambling areas, which should not exceed 1,500 square metres. The updated regulations also state if a casino’s gambling area is already larger than this, it cannot be expanded further.

Rank was quick to react to the new rules. Just days after the updated regulations were made public, it set out plans to install over 800 more machines across its UK Grosvenor estate.

The current machine count at Grosvenor venues is 1,367 machines, with 882 set to be added under the new rules. Rank could increase this further, with plans to reach 3,112 machines over the next two to three years

“We are at an exciting inflection point for the group with the land-based casino reforms,” O’Reilly said in the update.

“At that point, we will begin the process of securing licence variations from local authorities in England and Wales ahead of the rollout of additional gaming machines across the Grosvenor estate to better meet customer demand.”

What is driving growth at Rank?

While much of the focus is on adding more machines at land-based venues, recent quarterly results from Rank show most growth is coming from elsewhere.

During Q3, revenue jumped 10.9% to £195.6 million. Digital operations saw the most growth, with revenue in Q3 rising 154% to €58.4 million.

However, the Grosvenor UK land-based casinos remained its primary source of revenue. The venues generated £90.4 million, an increase of 13%. Also in the UK, revenue from Mecca land-based bingo venues edged up 1.9% to £36.6 million.

The remaining £10.2 million came from Rank’s Enracha venues. This surpassed the previous year by 4.1%.

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