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Rank Group has published its Q3 results for 2022/2023, citing strong performance in both land-based and online trading as net gaming revenues climbed 13 per cent to £174m. 

The group reported robust financial results for the Q3 period ending March 31, 2023, as the NGR increase was supported by a 12 per cent uptick in venue-based NGR at £113m, alongside a 16 per cent increase in Digital NGR to £52.5m. 

John O’Reilly, Rank Group CEO, commented: “We are pleased that the momentum we saw at the start of the second half of our financial year has continued with positive NGR growth across all our businesses.”

Rising visitor numbers and improved performance in both London and the rest of the UK saw Grosvenor venues register a 15 per cent increase to £78m as the group’s casino unit witnessed an average weekly NGR of £6.1m for the quarter. 

Meanwhile, Mecca establishments saw continued recovery with a 9 per cent NGR uplift, standing at £35m, attributable to increases of 4 per cent in customer visits and 5 per cent in customer spend per visit. 

The group’s bingo unit’s average weekly NGR stood at £2.7m for the quarter, signalling a 9 per cent rise compared to Q3 2021/2022 and a 10 per cent increase from Q2 2022/2023. 

O’Reilly continued: “Despite the challenging macroeconomic environment, the investments we have been making to improve the customer experience in our venues have helped drive the improved performance across both Grosvenor and Mecca.

Experiencing a growth of 16 per cent for the quarter, Rank Digital maintained growth in both the UK (15 per cent) and Spain (19 per cent), while the digital brands of Grosvenor and Mecca saw NGR increases of 23 and 15 per cent respectively. The group’s other digital UK services witnessed a seven per cent increase in Q3. 

“Our digital business is benefitting from the build-out of enhancements to the customer experience on our proprietary technology,” added O’Reilly. “And we have a strong pipeline of developments to continue to grow market share into the future.”

As a result of its recent performance, the LSE-listed gambling group noted that it expects its full year earning guidance for 2022/2023 to fall into the ‘upper end of expectations’.

Rank is set to announce its preliminary results for the 12 months ending 30 June 2023 on 17 August 2023.