British gambling operator Rank Group said that all its sectors registered a growth during the first half of the current fiscal year. Group revenue amounted to £370.1 million for the six months ended December 31, 2015, up 5% on a like-for-like basis. Operating profit before exceptional items increased 11% to reach £46.1 million.
The gambling company said that revenue from online operations was up 14% and its Grosvenor Casinos generated 7% more as compared to what was reported for the previous six months. Revenue from Rank Group’s Mecca retail bingo operations also increased. It grew 2% during the first half of the fiscal year.
Rank Group CEO Henry Birch said that he is pleased with the “good set of results” across all of the company’s brands and channels and that despite the impact of the recently introduced Remote Gaming Duty, it managed to also deliver a growth in adjusted earnings per share and dividend. Those rose 4% and 13%, respectively.
The gambling operator said that during the first half of the fiscal year, it continued moving forward with its plans for further expansion and transformation. The Rank Group revealed that its migration to a new digital platform is on schedule to be completed before the end of the quarter. In addition, two new bingo clubs are slated to be launched sometime this summer.
Mr. Birch said that in 2016, his company will introduce “a new digital platform, a new casino management system,” new sports betting and poker product offering as well as a new bingo retail format. The executive also noted that they consider it particularly encouraging that all Rank Group’s channels have grown, especially its Mecca retail bingo business.
Apart from its financial results, the gambling operator announced today that it has signed an agreement with sports betting services provider Kambi. Under the terms of their deal, the supplier will provide Rank Group’s Grosvenor Casinos online brand with its managed sports betting product. Thus, customers of both Grosvenor’s gambling website as well as its properties across the UK will be able to take advantage of “a premium quality sports betting experience.”
The Grosvenor brand has more than 1.7 million UK-based customers. Following the announcement about the agreement, Kambi will be integrated with the Bede Gaming Management Platform, thus enabling players to place their bets via desktop and mobile while anywhere in the UK.
