REG - Rank Group PLC - Q1 2025/26 trading update

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RNS Number : 3681D  Rank Group PLC  15 October 2025

The Rank Group Plc

LEI: 213800TXKD6XZWOFTE12

15 October 2025

Q1 2025/26 trading update

All businesses growing in line with expectations

 

Group overview: Group like-for-like Net Gaming Revenue ('NGR') for the first
quarter ended 30 September 2025 ('Q1') grew 9% to £210.2m. On a channel
basis, digital like-for-like NGR for Q1 was up 13% and venues like-for-like
NGR was up 7%.

 LFL NGR           Q1 2025/26  Q1 2025/26 YoY

                   £m          change
 Digital           61.6        13%
 Grosvenor venues  102.7       8%
 Mecca venues      35.5        5%
 Enracha venues    10.4        5%
 Group             210.2       9%

 

Digital like-for-like NGR growth of 13% was driven by a 15% growth in the UK
business, within which Grosvenor grew 31% and Mecca grew 9%. In Spain, NGR was
1% lower than the prior year due to previously reported platform capacity
issues, however these are now being addressed with the launch of a new bingo
platform and we are expecting this business to return to growth in Q2.

Grosvenor venues like-for-like NGR grew 8%, with a 5% increase in visits and a
3% increase in spend per visit. Outside London, Grosvenor's performance grew
10%. London grew 4% with a relatively quieter summer in the capital being
offset by a significant step up in the performance of the Victoria Casino on
London's Edgware Road following its £15.0m refurbishment which completed in
July.

At a product level, electronic table gaming revenues grew 11%, demonstrating
the return on investment from recent upgrades to terminals; gaming machine
revenues grew by 12% with the rollout of additional B1 gaming machines across
the estate commencing in late August. To date, and in line with our
expectations, 471 machines have been installed across 18 casinos. Table gaming
revenues grew 3%.

Mecca venues like-for-like NGR grew 5% in the period. Customer visits were
down 1% on prior year, with spend per visit up 6%.

Enracha venues continued to perform well with Q1 like-for-like NGR growth of
5%.

John O'Reilly, Chief Executive, said:

"We have started the year strongly and are confident of delivering Group
like-for-like operating profit in line with expectations, notwithstanding the
significant cost increases we have incurred in employer national insurance
contributions, the national living wage and the new statutory levy.

We are pleased to be rolling out additional gaming machines in our Grosvenor
venues; we are on track with our installation programme and now expect a total
of 850 incremental machines to be added to our estate before the end of H1
2025/26.

Speculation regarding tax changes in the upcoming Budget is, inevitably,
hanging over the business. We are engaged with the Treasury on the
implications of tax changes on the viability of our venues, employment levels,
future investment and the customer. Last year the Group generated £44.6m in
profit after tax, having paid HMRC and local authorities £188.0m in taxes.
The Rank Group, with its strong UK focus, is certainly paying its fair share."

Rank will host a Capital Markets Event focused on the Grosvenor business on 22
October 2025 at the Victoria Casino and will announce its interim results for
the six months ending 31 December 2025 on 29 January 2026.

Ends

Contacts:

 

Rank

David Williams - corporate affairs & investor relations
              david.williams@rank.com

 

Media Enquiries:

FTI Consulting LLP (PR adviser to Rank)

Edward Bridges
                                       Tel: +44 20 3727
1067

Alex Beagley
                                         Tel: +44 20 3727
1045

Notes to editors:

1. NGR represents Gross Gaming Revenue after customer incentives.

2. Like-for-like excludes the effects of club closures, FX movements and
discontinued operations.

3. All comparisons are with the same period in 2024/25.

4. Q1 is for the period 1 July to 30 September.

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