UK-listed gaming operator Rank Group’s digital division outperformed its retail operations in its fiscal H1 as the company preps the launch of new online slots and bingo brands.
Rank’s interim results for the six months ending December 31 show retail revenue essentially flat at £326.2m while digital operations gained 11% to £52.4m. Group earnings declined 5% to £59.7m and after-tax profits fell 17% to £35.4m, in part due to rising costs associated with the introduction of the National Living Wage.
Rank CEO Henry Birch said the company’s retail operations had experienced “challenging trading conditions” in H1 but the digital division “continues to grow strongly and there remains significant potential for this channel as we deliver improvements in H2.”
Most of the digital growth came courtesy of Grosvenorcasinos.com, which saw revenue jump 39% to £19.3m while the Meccabingo.com site was flat at £33.1m.