Rank Group Reports Return to Profit

The Rank Group, owner of Mecca Bingo and Grosvenor Casinos, reported a pre-tax profit of £15.5 million for the year ending June 30, 2024, marking a significant recovery from a £123 million loss the previous year. This turnaround was driven by a 9% increase in net gaming revenues, totaling £734 million, with a notable rise in younger customers, particularly under-35s. Chief Executive John O'Reilly attributed the success to enhanced value offerings and a vibrant event schedule designed to attract a younger demographic. The company plans to reinstate dividend payments, reflecting confidence in its improving financial stability. Furthermore, Rank anticipates benefiting from potential regulatory reforms aimed at modernizing the gaming sector. The group has also focused on integrating proprietary technology to enhance customer experience across its venues.