Entain Ltd and Rank Group Announce Financial Results

Although many businesses continue to face economic challenges, the Rank Group and Entain Ltd have recently announced positive financial news.

Rank Group

Rank Group, which owns Mecca Bingo and Grosvenor Casinos, has once again seen a return to profit. They believe the numbers are helped by recovery after the pandemic and their targeting of the under-35s.

The preliminary results outlined on their website for the 12 months ended 30 June 2024 show:

 - Like-for-like ('LFL') Net Gaming Revenue ('NGR') grew 9% yearly, with all businesses growing.

 - LFL underlying operating profit continues to rebuild with £24.8m in H2, up 14% compared with £21.7m in H1.

 - LFL's underlying operating profit for the year was £46.5m, over double the prior year's £20.1m.

 - Improved trading in Q4, with LFL NGR increasing 14% yearly, allowing positive momentum into 2024/25.

Entain PCL

Entain, a gaming and sports betting provider that operates brands such as Ladbrokes, Coral, and BetMGM, has announced a strong performance in its online gaming sector.

The results as of July 2024 are in; you can see them in full at Entain.

On Entain's website, Stella David, Interim CEO & Chair Designate, said: 'Entain’s H1 results are clear evidence that our hard work improving the Group’s operational performance is bearing fruit. Whilst there is more work to do, we are pleased with the progress so far and look forward to building further on these solid foundations in H2 and beyond.

'Our focused execution underpins the Group’s performance so far this year, and we are excited by the opportunities ahead. I look forward to welcoming Gavin Isaacs as our new Chief Executive Officer and supporting him as we continue to build on the Group’s improving operational momentum.'

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