Rank Group Reports Flat Revenue for Q3

Rank Group PLC, the Casino and bingo operator, has reported that revenue remained flat in the third quarter.

This was after digital revenue rose 2%, offsetting a 1% fall in revenue at its Mecca business. Revenue at its Grosvenor and international venues businesses both remained flat on the year before.

On the digital front, Rank said Grosvenor digital saw net gaming revenue up 15% in the quarter. Similarly, Mecca digital grew net gaming revenue 10% higher. YoBingo – which does not feature in like-for-like figures – also continues to perform “well”.

In May 2018, Rank acquired Spanish online bingo operator YoBingo.es for up to EUR52 million in cash.

In an announcement, Rank said, former chief executive officer Ian Burke will stand down as chair and depart after the annual general meeting in October.

“I have enjoyed my time at Rank immensely and am extremely proud of what we have achieved as a company. I have decided to step down as chairman in the knowledge that Rank has a strong management team and board which will take the business forward through its transformation programme,” Burke said.