The Rank Group plc reported digital growth of 19% for the 16 weeks to 15 October 2017 at their Annual General meeting today.
Digital revenues at Grosvenor Casinos was up 34% and Mecca Bingo’s online operations were up 11%.
Rank moved their entire digital operation to Bede in March 2016 and has seen strong growth since that point.
Michael Brady, chief executive of Bede Gaming, said: “We are delighted that Bede’s biggest client is seeing such excellent digital growth and we look forward to supporting them in the years to come, both online and in their retail offering.”
Both Rank chief executive Henry Birch and his digital team have publicly stated that Rank’s digital growth has been strongly enhanced by Bede’s platform. Adam Joseph, director of digital operations for Rank, has said: “The perceived risk of moving to newer technology was unfounded. Bede allows us the flexibility, speed and control we need to amplify our digital plans and we look forward to continuing our work with them to see how much they, and we, can grow in the future.”
Ivor Jones, leisure analyst at Peel Hunt, wrote in a note to clients this morning: “The digital speedboat continues to grow and have an increasing impact on the growth of the liner it is pulling along. The best is yet to come, with single wallet completing the digital transformation project and giving management the tools to monetise the substantial player base of the offline
Business. We reiterate our Add recommendation.”