Rank Group reports impressive revenue growth in 2024. (Image: Timon Schneider / Alamy)
It’s that time of year when we get to see the numbers for 2024 or at least the numbers that tell a positive story. The Rank Group, British gambling company that operates land-based and online casinos and bingo halls, is one of those. The interim results for the six-month period ending December 31, 2024, show a new gaming revenue of £401.8m.
The company will be buoyed by these figures along with a total group operating profit, which grew 148 percent from the previous year from £16.2m to £40.2m. It leaves the company with a handsome after-tax profit of £28.9m, up from £8.8m.
CEO Pleased with Strong Momentum of Business
Speaking about the multimillion-pound increase in revenue, CEO of the Rank Group John O’Reilly said, "We are pleased to deliver another good set of results as we continue to take advantage of the growth opportunities available to us and maintain a strong momentum across all of our businesses.
“Customers are responding positively to the investment we are making and to the experiences we are delivering both online and in our venues." added O’Reilly.
O’Reilly was cautious, saying that the company could see inflationary employment cost headwinds and the negative financial impact of some of the measures in the Gambling Act.
He was confident, however, that Rank’s ability to both grow revenues and secure further cost efficiencies will help them to sustain their positive profit trajectory.
The CEO said, “We are readying ourselves to take full advantage of the benefits of the land-based casinos legislative reforms, which we expect to see implemented from summer 2025.
A program of venue and product improvements is well advanced as we prepare to better meet the needs of our customers when the time comes.
Digital Platforms and Staff Commitment Recognised by CEO
O’Reilly also highlighted the benefit of the company’s proprietary digital platforms in their performance. He signalled the Rank Group’s intent to continue to focus on product innovation and investment in their technology.
He said, “Our vision to optimise a seamless and tailored cross-channel offering for our customers continues to be our priority with some key initiatives landing in H2.”
O’Reilly thanked his colleagues across the Rank Group, saying that their commitment to delivering experiences that excite and entertain our customers has delivered this strong set of results.
Meet The Author
Experience
News WriterMost of my career was spent in teaching including at one of the UK’s top private schools. I left London in 2000 and set up home in Wales raising four beautiful children. I enrolled at University where I studied Photography and film and gained a Degree and subsequently a Masters Degree. In 2014 I helped launch a new local newspaper and managed to get front and back page as well as 6 filler pages on a weekly basis. I saw that journalism was changing and was a pioneer of hyperlocal news in Wales. In 2017 I started one of the first 24/7 free independent news sites for Wales. Having taken that to a successful business model I was keen for a new challenge. Joining the company is exciting for me especially as it is a new role in Europe. I am keen to establish myself and help others to do the same.
Read Full BioRelated News
Test Your Luck
Not Your Spam Filter
Sign up to receive emails and promotions from Casinos.com
