Rank Group announced a robust 9% increase in net gaming revenue (NGR) for the first quarter of 2025–26, reaching £210.2 million (€280.9 million). This performance underscores a consistent recovery in both digital and retail segments, fueled by recent changes in the UK’s land-based gaming regulations.
Earlier in 2025, Rank Group had already demonstrated remarkable growth in its fiscal year, paving the way for continued success into the first quarter. The latest figures highlight the sustained momentum of its digital operations alongside the bolstered performance of its retail venues across the UK.
A closer look reveals that the online segment drove much of this growth, counterbalancing a challenging period in Spain. Rank’s digital revenue soared by 13% year-on-year, totaling £61.6 million. This was the most significant growth across the company’s four main divisions. Within this segment, Grosvenor’s digital revenue experienced a substantial 31% jump, while Mecca’s online division reported a 9% rise, thanks to strategic product updates and player engagement initiatives.
However, in Spain, Rank’s online performance recorded a slight 1% drop due to capacity issues. Nonetheless, executives remain optimistic, pointing to the launch of a new bingo platform in the second quarter as a potential catalyst for renewed growth. This initiative is part of Rank’s broader international expansion strategy, which includes enhanced collaboration with Spinomenal to boost its presence in the Spanish market.
Meanwhile, Rank’s land-based gaming services continued to anchor the company’s revenue streams. The Grosvenor venues contributed £102.7 million, marking an 8% increase compared to the previous year. This segment benefited from a 5% rise in customer visits and a 3% increase in spend per visit, an outcome attributed to the ongoing recovery in consumer activity. Notably, growth outside London reached an impressive 10%, supported by the refurbishment of the Victoria Casino, which was completed in July.
Breaking down the performance of Grosvenor venues reveals that electronic table games revenue grew by 11%, traditional tables by 3%, and gaming machines by 12%. These figures reflect the positive returns from recent terminal upgrades.
The uptick in Rank’s Q1 2025 results is partly credited to the UK’s revised land-based gaming framework, implemented in August. These new regulations grant operators increased flexibility and investment opportunities, allowing casinos to incorporate more gaming machines and introduce in-house sports betting. Looking ahead, Rank plans to expand betting options across its venues as part of a long-term diversification strategy.
On the bingo front, Mecca venues reported a 5% revenue boost, with a 6% increase in customer spend offsetting a 1% drop in overall visits. Similarly, Enracha venues in Spain achieved a 5% revenue lift, signaling continued stability across Rank’s European operations.
Despite facing cost pressures and regulatory uncertainties, Rank’s leadership remains optimistic about maintaining its strong start to the year. Chief Executive John O’Reilly reassured stakeholders that the company is on track to meet full-year operating profit expectations, despite challenges such as increased national living wages, statutory levies, and employer contributions.
“We have started the year strongly,” O’Reilly noted, affirming confidence in achieving group like-for-like operating profit targets. He also highlighted plans to install 850 new gaming machines across Grosvenor venues by the end of the first half of the 2025–26 fiscal year.
Simultaneously, Rank Group is engaging with UK government officials in anticipation of potential gambling tax changes in the upcoming November budget. O’Reilly acknowledged the looming speculation about a unified tax rate for remote gambling and emphasized the importance of assessing its implications on the company’s venues, workforce, and long-term investments.
“Speculation regarding tax changes in the upcoming budget is, inevitably, hanging over the business,” he observed, underlining Rank’s proactive discussions with the Treasury to navigate potential impacts on viability, employment, and future growth.
In the previous year, Rank reported a profit after tax of £44.6 million, contributing £188.0 million in taxes to HMRC and local authorities. The question now is whether Rank Group’s strong start to 2025 will be sufficient to maintain its momentum throughout the rest of the year, especially as the industry adapts to evolving market conditions and regulatory landscapes.
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