Rank Group hits growth across all divisions
Table of contents
- Rank Group reports Q3 net gaming revenue of £205.4m, up 5% year-on-year.
- All four divisions — Grosvenor, Mecca, Enracha and Digital — post revenue increases.
- Full-year underlying operating profit guidance raised to at least £68m.
Rank Group has upgraded its full-year underlying operating profit outlook after delivering revenue growth across all four divisions in the third quarter of its 2025/26 fiscal year, covering the three months to 31 March 2026.
Group like-for-like net gaming revenue for Q3 reached £205.4m, up 5% year-on-year. For the nine months to 31 March 2026, group NGR stands at £625.2m, 6% ahead of the prior year.
Venues drive momentum
Grosvenor Casinos remained the group’s largest revenue contributor, posting Q3 NGR of £95.0m, up 5% year-on-year. Gaming machines were the fastest-growing vertical at 10% growth, following the installation of around 850 additional machines across 37 casinos after legislative reforms enacted last July expanded the permitted allowance.
Mecca, Rank’s bingo business, posted Q3 NGR of £37.8m, also up 5%. The division is expected to achieve double-digit operating profit growth in FY26, underpinned by the abolition of Bingo Duty from 1 April 2026. Removal of the 10% levy had been a long-standing ask from the sector.
Enracha, the group’s Spanish venues division, recorded Q3 NGR of £11.7m, up 9% year-on-year, and year-to-date NGR of £34.0m, up 7%. Gaming machines drove the outperformance, rising 27% in the quarter.
Digital faces tax headwinds
The Digital division grew Q3 NGR by 4% to £60.9m, with year-to-date NGR up 6% to £184.6m.
UK digital revenue grew just 2%, suppressed by the impact of the remote gaming duty increase to 40% from 1 April 2026. Rank has introduced mitigation measures it expects to deliver significant savings in above-the-line marketing spend, supplier costs and headcount.
International digital operations partially offset the drag, with revenue growing 14% in the quarter, driven by improvements to the Spanish offering.
Analysts at Regulus Partners cautioned that cost mitigation alone would be insufficient. The firm argued Rank must invest in its digital product rather than cut capability to preserve short-term profits, warning that a “me-too offer” risks disappointing customers online.
Guidance raised
Richard Harris, interim chief executive of Rank Group, said:
“It was pleasing to see continued revenue growth across all businesses and strong profit conversion in Q3, despite a tough macroeconomic backdrop. The results demonstrate the resilience of the business, the strength of the customer proposition and the growth initiatives we have in place.”
Harris added that the group is well placed to reach its medium-term objective of at least £100m in operating profit, having implemented actions to offset much of the impact of higher remote gaming duty in the UK digital business.
Rank now expects full-year underlying like-for-like operating profit to reach at least £68m, up from £63.7m in 2024/25. The group said the guidance accounts for energy cost volatility, which is not currently expected to have a material impact on profitability in FY26 or FY27. Preliminary results for the full year are scheduled for 13 August 2026.
Land-based growth and the Mecca bingo duty benefit give Rank a favourable platform heading into Q4, with the performance of the digital mitigation programme the key variable for full-year investors to monitor.
Keep reading
Do you have a story worth sharing?
Send it over to our editors!
