The Rank Group delivered a 12 months of considerable income and revenue progress for the 12 months ending 30 June 2025, with all components of its enterprise performing forward of expectations. Looking ahead, the operator expects new UK playing reforms to additional strengthen its place in the approaching 12 months.
Rank’s whole reported internet gaming income (NGR) for FY25 reached £795.4 million, up 8% from the earlier 12 months, whereas underlying like-for-like NGR climbed 11% to £795.3 million. Growth was constant throughout the group’s 4 core segments, with each working and internet revenue exhibiting sharp will increase regardless of greater prices.
Grosvenor Drives Venue Growth
Venues remained Rank’s greatest income driver, producing £559.6 million, up 11% year-on-year. Grosvenor casinos led the cost with £378.4 million in income — a 14% rise — supported by focused funding, improved product choices, and enhancements to buyer expertise.
London venues introduced in £117.5 million, up 9%, whereas areas throughout the remainder of the UK delivered £260.9 million, a 17% enhance. Visitor numbers rose 3%, and common spend per go to was up 11%.
“Revenue growth is the result of the significant and targeted investments that we have made in our venues, an improved product offering, improvements to customer risk management and our people and culture,” Rank mentioned in its report (pdf). The firm expects additional advantages from latest Gambling Act reforms, which embrace greater machine allocations and the introduction of sports activities betting in casinos.
Mecca bingo venues additionally grew income by 5% to £140.3 million, with flat attendance however a 5% enhance in spend per go to. Gaming machine revenues at Mecca rose 9%, now representing 41% of the division’s NGR. In Spain, the Enracha model posted a 9% like-for-like income enhance to £40.9 million, boosted by machine upgrades and refurbishment tasks.
Digital Performance and Regulatory Pressures
Rank’s digital arm achieved £235.7 million in income, up 10%, with common income per buyer leaping 18%. UK on-line income rose 12% to £208.8 million, pushed by sturdy performances from Grosvenor Digital (up 22%) and Mecca Digital (up 11%).
However, new UK rules launched in April 2025 affected profitability. These included a statutory playing levy of 1.1% and most stake limits of £5 for on-line slots (£2 for under-25s). “The impact on digital profitability in the final quarter of the year (April to June 2025) has been around £1 million,” Rank said, estimating the annual impact at round £4 million.
Outside the UK, digital efficiency in Spain was flat because of platform capability points, whereas Rank’s Portuguese launch has been delayed, although licensing is anticipated quickly. CEO John O’Reilly famous, “Our online business is tracking to the expected 8%-12% revenue growth rate as we drive the benefits of our proprietary technology and develop seamless cross-channel experiences for customers.”
Profit Surge and Strong Cash Position
Statutory working revenue greater than doubled to £67.0 million, whereas underlying working revenue climbed 38% to £63.7 million. Profit earlier than tax hit £53.9 million, up 248%, and internet revenue reached £44.6 million. Basic earnings per share rose to 9.5p, and the board really helpful a closing dividend of 1.95p, taking the full-year whole to 2.60p.
Return on capital employed improved to 14.5%, from 10.3% a 12 months earlier. Net debt closed at £130.8 million, with internet free money circulation at £27.7 million and internet money pre-IFRS 16 at £45.4 million.
“We are growing profitability and have a strong net cash position,” O’Reilly mentioned. “This will enable both continued investment and progressive dividend returns for our shareholders.”
UK Reforms to Expand Machines and Add Sports Betting
From July 2025, reforms to the UK’s land-based playing guidelines enable Rank so as to add round 850 gaming machines to its Grosvenor property of fifty venues, on high of its present 1,367 B1 machines. Sports betting will even be launched in 38 venues, a primary for the corporate.
“With the long-awaited legislative reforms for casinos now delivered, the group is at an exciting inflection point,” O’Reilly remarked. “The Grosvenor business will benefit from the higher gaming machine allocations and the introduction of sports betting, which will better meet existing customer needs and increase the attractiveness of casinos to a broader base of consumers.”
Caution Over Potential Tax Hikes
O’Reilly used the FY25 outcomes announcement to warn towards potential UK playing tax will increase. The Treasury is contemplating changing the present three-rate distant playing system with a single Remote Betting & Gaming Duty, whereas some assume tanks have proposed mountain climbing distant gaming responsibility to 50%.
“I don’t moan about the tax we pay as this is the type of business we are in,” O’Reilly mentioned, noting Rank paid £189 million in taxes throughout FY25 — about £4 of each £5 it generated. “Any increase has the potential to move a business from being profitable to not profitable. As such, businesses will go and competition in the market will decrease, which is not good for the consumer.”
