(RTTNews) – The Rank Group plc (RNK.L), a gaming and entertainment operator, on Tuesday said it expects fiscal 2025 – 2026 underlying operating profit to come in ahead of expectations at least £76 million, driven by strong gaming revenue growth and disciplined cost management.
The company said Digital delivered strong fourth-quarter growth despite the increase in UK Remote Gaming Duty, while Grosvenor continued to benefit from gaming machine optimization.
The company said that like-for-like net gaming revenue for the year increased 6% to approximately £834.1 million.
Grosvenor venues revenue rose 3% to £98.3 million, Digital revenue increased 12% to £63.9 million, Mecca venues revenue grew 4% to £35.4 million, and Enracha venues revenue advanced 6% to £11.3 million.
The company also expects to record a £5 million provision in its fiscal 2025 – 2026 results related to a proposed regulatory settlement with the UK Gambling Commission over historical compliance failings.
The regulator has indicated it is minded to accept the settlement proposal.
Looking ahead, the company expects its medium-term ambition to deliver at least £100 million in operating profit and will report its fiscal 2025 – 2026 results on August 13.
On Monday, The Rank Group closed trading 0.53% higher at GBp 94.50 on the London Stock Exchange.
