Rank Group: Grosvenor casino owner posts strong profit as UK gambling reforms boost outlook
Grosvenor casino owner Rank Group has posted a sharp jump in profit on the back of double-digit growth across its venues and online arm, with fresh government gambling reforms set to boost future earnings.
For the year to 30th June 2025, like-for-like net gaming revenue climbed 11 per cent to £795.3m, while underlying operating profit surged 38 per cent to £63.7m.
Statutory operating profit more than doubled to £67m, as investments in its Grosvenor casinos, Mecca Bingo halls and digital platform paid off.
The Maidenhead-headquartered group, which runs 152 venues in the UK, said Grosvenor revenues rose 14 per cent, with average weekly takings hitting £7.3m.
Digital gaming also grew 10 per cent despite regulatory headwinds from the Gambling Act review, while Mecca posted a five per cent uplift.
Reforms spark modernisation drive
Rank is now gearing up for the full rollout of landmark land-based casino reforms, which came into effect in July and allow for higher numbers of gaming machines and in-venue sports betting.
The changes will see around 850 additional machines installed across its 50 Grosvenor casinos in England and Wales over the next year, alongside a sportsbook launch in 38 sites.
The group has already begun a modernisation push, reopening its flagship London casino, The Victoria, last week after a £15m revamp.
The refurbishment, the largest in Grosvenor’s history, added a new gaming terrace, poker room upgrades and space for more machines under the new rules.
Chief executive John O’Reilly said: “We have had another successful year, delivering revenue growth and profit ahead of our expectations. With the long-awaited legislative reforms for casinos now delivered, the Group is at an exciting inflection point.”
“The Grosvenor business will benefit from the higher gaming machine allocations and the introduction of sports betting, increasing the attractiveness of casinos to a broader base of consumers.”
Rank has also extended £100m of its £120m bank facility until 2028, giving it firepower for further investment.
It ended the year with £45.4m in net cash and proposed a final dividend of 1.95p, taking the annual payout to 2.6p per share.
Trading in the first six weeks of the new financial year is already up nine per cent, and O’Reilly said the company is “well placed” to meet expectations for 2025/26.
The reforms mark the biggest since the Gambling Act 2005, part of a wider push by the Labour government to stimulate growth through targeted deregulation.
For Rank, that could mean more machines, new sports betting revenue streams and, if momentum holds, a bigger jackpot for investors.