Rank Group boosted by 71% casino revenue growth
Group's Grosvenor brand posts 71% digital growth with Mecca Bingo also showing 4% revenue rise in 15 weeks ended 12 October
Rank Group’s Grosvenor Casino arm recorded a 71% increase in digital revenue for the 15-week period ended 12 October as the firm felt the effect of a new branded live casino launch and increased cross sell from its land-based business.
Digital revenues from Rank’s flagship Mecca Bingo brand also grew 4% year-on-year, helping to offset a decline in visits to its land-based establishments, with the online business benefitting from a recent TV marketing campaign and a “more competitive” sign-up bonus.
The return to growth in bingo comes following a 4% drop in full-year revenues the company reported in August and in advance of an expected shift to a new platform later this year.
Grosvenor Casinos impressed with a 71% increase in revenues year-on-year, albeit from a smaller revenue base, which the group attributed to various improvements to its product line, including last year’s launch of a live casino product and a revamped VIP management program.
Rank also lauded an increase in cross-sell from its land-based casinos, which Rank Group CEO Henry Birch highlighted as a particular highlight.
“We continue to work on our strategic priorities outlined in our 2014 preliminary results announcement and expect to provide a more detailed update at our forthcoming interims in January 2015,” Birch said.
Birch previously outlined plans to conduct an overhaul of the group’s digital businesses, informing eGaming Review that a switch to a new supplier for its core digital platform was imminent and would be central to its online strategy.
Rank also confirmed that Birch was to stand in as interim Mecca managing director following Grosvenor Casinos MD Phil Urban’s departure. The operator confirmed Urban’s departure last week and announced current Mecca MD Mark Jones was to step across to succeed him as the group searches for an external candidate to succeed Jones.