Rank Revenues Drop in Third Quarter

Betting firm Rank Group has released their third quarter financials, with the company revealing that revenues fell for the group when compared to the year prior.

Key financial indicators for the quarter ending September 30th, 2018 were:

  • Group revenues down 5% from the same period last year
  • Grosvenor Casino revenues down 7%, which is due to reduced margins from high-end customers
  • Mecca Casino saw revenues slip 5% due to a drop in visitors
  • Digital revenues were up 1.7%, which was spawned from a 6.4% rise in Mecca's online products
  • Grosvenor revenues were down 5.2%, which was attributed by what the company called "more stringent customer due diligence"
  • YoBingo revenues up 46%

The company has begun undergoing a transformation programme, which will improve the overall effectiveness of Rank moving forward and shifting goals toward efficiency and digital growth.

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