Rank Group is expecting full-year 2024-25 net gaming revenue (NGR) to land around £795m, according to a preliminary trading update published today, 10 July.
The notice, in which Rank said its performance was “ahead of expectations” covers the 12 months up to 30 June 2025.
Bosses said the update was “positive”, with the forecasted NGR representing an 11% year-on-year spike.
Rank added that it now expects to report operating profit of at least £63m on a full-year, like-for-like basis.
The update sent the London-listed firm’s stock soaring in early morning trading, reaching as high 145p. Shares are now trading around 140p at the time of writing.
Rank’s stock closed trading down at 137p yesterday, 9 July. In the year-to-date, the omnichannel business’ shares have risen 69%.
Commenting on the trading update, Rank CEO John O’Reilly said strong trading in Q4, running from April to June, had helped drive growth.
He added this was despite regulatory headwinds the operator faced in the quarter, which saw the £5 stake limit for online slots come into effect from 9 April.
The £2 limit for players under the age of 25 also came into force in May.
Rank, like other UK operators, started paying 1.1% of its digital gross gaming revenue as part of the statutory levy in April.
O’Reilly said: “We have enjoyed a very strong year of earnings growth despite the significant cost and regulatory headwinds that we have faced from the start of Q4.
“The momentum experienced in the first three quarters has continued, with strong trading in Q4 resulting in our full year underlying operating profit being ahead of expectation.”
O’Reilly also commented on the group’s land-based sector, noting the incoming casino reforms from 22 July will be a benefit.
He said: “We are at an exciting inflection point for the group with the land-based casino reforms now law and coming into force from 22 July.
“At that point, we will begin the process of securing licence variations from local authorities in England and Wales ahead of the rollout of additional gaming machines across the Grosvenor estate to better meet customer demand.”
Rank will release its preliminary results for 2024-25 on 14 August.
Speaking to EGR last August, O’Reilly highlighted the advantage the group’s omnichannel offering had when it came to giving its customers a “seamless experience”.
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Maidenhead-based operator expecting to post £795m in net gaming revenue for the 12 months to 30 June, as bosses note full year underlying operating profit expected to be ahead of expectations
The post Rank Group shares spike as full-year NGR expected to jump 11% YoY first appeared on EGR Intel.