Rank Group Plc · LSE:RNK
Rank — Investor Day (October 2025)
77 slides from Rank's investor day presentation, Oct 22, 2025
Slide 1: Rank Group Capital Markets Event
Rank Group Capital Markets Event 22nd October 2025
Slide 2: Welcome to a new era of gaming
Welcome to a new era of gaming Richard Harris Chief Financial Officer
Slide 3: Agenda
Agenda Welcome to a new era of gaming: Richard Harris - Chief Financial Officer This is Grosvenor: Mark Harper - Managing Director, Grosvenor] Customer centric brand building: Chris Edgington - Chief Marketing Officer, Grosvenor Culture change and colleague engagement: Vicki Shaw - People Director,
Slide 4: The Rank Group investment case
The Rank Group investment case Targeted investment to Market leading positions maximise shareholder in attractive markets value Clear Attractive growth customer drivers proposition Highly engaged and skilled colleagues
Slide 5: The Rank Group investment case
The Rank Group investment case Gambling is an important leisure activity for Targeted investment to Market leading positions maximise shareholder in attractive markets our customers value Gambling revenues are consistent and resilient Market leading casino and bingo brands Clear Attractive growth cu
Slide 6: The Rank Group investment case
The Rank Group investment case Targeted investment to Market leading positions maximise shareholder in attractive markets value Best-in-class product Venue environments continue to improve Clear Attractive Proprietary technology driving digital growth customer performance drivers proposition Selecte
Slide 7: The Rank Group investment case
The Rank Group investment case Targeted investment to Market leading positions maximise shareholder in attractive markets value Ongoing cultural change programmes Record employee engagement levels Elevating service levels and improving Clear Attractive growth customer customer satisfaction drivers p
Slide 8: The Rank Group investment case
The Rank Group investment case Grosvenor underlying performance will continue to benefit from return on Targeted investment to Market leading positions investment maximise shareholder in attractive markets value Growth in gaming machines will accelerate growth and, alongside the introduction of spor
Slide 9: The Rank Group investment case
The Rank Group investment case Targeted investment to Market leading positions maximise shareholder in attractive markets value Clear hurdle rates for investments Elevated investment to capitalise on land- based reform opportunity Group-wide focus on ROCE. Expect to Clear Attractive deliver at least
Slide 10: The Rank Group investment case
The Rank Group investment case Double digit revenue growth over the last two years Targeted investment to Market leading positions maximise shareholder in attractive markets Growth in all businesses and strong value profit conversion Net cash generated of £55m over the Strong last two years vs an ex
Slide 11: To excite and to entertain
To excite and to entertain
Slide 12: This is Grosvenor Casinos
This is Grosvenor Casinos Mark Harper Managing Director, Grosvenor
Slide 13: To be the UK's most loved casinos
A clear aspiration To be the UK’s most loved casinos
Slide 14: The UK's leading casino brand
The UK’s leading casino brand 50 venues across the UK Grosvenor Venues Total colleagues Unique customers Average weekly NGR 4,400 1.0m £7.3m Engagement score = 8.4 5.3m visits p.a + 14% v PY Picture of apps / Grosvenor Digital prop tech? Total colleagues Unique customers Average weekly NGR 500 0.25m
Slide 15: We have clear competitive advantages
We have clear competitive advantages Venues as the Brand equity heartbeat Our people of the brand Broad product Proprietary High barriers to portfolio technology entry
Slide 16: A strengthened leadership team
A strengthened leadership team, benefitting from a diverse mix of capabilities and experience Venues Leadership Team Chris Edgington Sam Collins Marcin Zawada Chief Marketing Officer Operations Director Chief Operating Officer Joined Sept 2024 Joined Nov 2023 Joined Oct 2018 ATG Entertainment, P&O C
Slide 17: Our Grosvenor casinos growth story, predicated on investing wisely
Our Grosvenor casinos growth story, predicated on investing wisely Chapter 4 Chapter 3 Chapter 2 Chapter 1 Building Product Delivering return on momentum Recovery & growth investment £8m+ NGR per Post Covid recovery £6.4m NGR per £7.3m NGR per week Environment £5.9m NGR per week week week People Sys
Slide 18: Investment in product
Investment in product ETG upgrades +39% Stakes • Continued investment in a best-in-class live table gaming experience supported by our in-house Skills Academy +42% NGR • 545 Electronic Table Gaming terminals (ETGs) 45% ROI replaced in FY25 with the latest technology and content Goliath • An extended
Slide 19: Investment in environment
Investment in environment • Increased maintenance capital to address historical underinvestment and improve Venue upgrades efficiency of infrastructure • Growth capital to create modern, premium £32m growth capital environments, future-fit for land-based reform Average payback of <3 years • Enhanced
Slide 20: Leicester – completed August 2024
Leicester – completed August 2024 High profile casino in Leicester city centre with diverse customer base Why we invested Total spend: • Upgrade an underinvested venue in a competitive marketplace £4m • No significant investment in over 10 years • Opportunity to modernise, improve customer facilitie
Slide 21: The Gloucester – completed February 2023
The Gloucester – completed February 2023 High end casino in Kensington, appealing to middle eastern market Why we invested Total spend: • Modernise a tired venue and stay competitive in a vibrant London market £2.7m • Opportunity to attract more local and year-round customers, as well as seasonal vi
Slide 22: Glasgow Merchant City – completed June 2022
Glasgow Merchant City – completed June 2022 Large footprint casino in the heart of Glasgow Why we invested Total spend: • Modernise a top-performing venue and maintain leadership in a competitive Glasgow market £3.5m • Unlock significant revenue growth • Enhance the customer journey with new bar, re
Slide 23: Investment in people
Investment in people • Launched programme of cultural change +20% engagement • Improved training and development -26 pp voluntary turnover • Upgraded back of house colleague areas +5 pts customer NPS • Deployed new technology to improve employee communications Engagement, voluntary turnover, and cus
Slide 24: Investment in systems and process
Investment in systems and process AI recommendations on • Investment in table gaming management table opening and pricing system, using technology to drive real-time reviewed in real time, with pricing and table opening recommendations 60% implementation rate • Enhanced slots data analytics introduc
Slide 25: Project Dynamo – efficiency & effectiveness programme
Project Dynamo – efficiency & effectiveness programme Already unlocking value with much more to come Project Dynamo 15 in-flight efficiency • 15 initiatives underway delivered by cross functional teams under the governance initiatives of a project office • Focus on data and technology to increase ef
Slide 26: Focusing on safer gambling
Focusing on safer gambling Colleague opinion survey scores • Safer gambling is integral to our day-to-day “I believe Grosvenor considers it business important that our customers gamble responsibly” • Investment in data and technology provides colleagues in venue with enhanced capability to provide a
Slide 27: Delivering sustained visits, revenue and profit growth
Delivering sustained visits, revenue and profit growth Total visits p.a (m) Venues Weekly NGR (£m) Operating Profit (£m) 12.8% 23.7% 91.6% 5.3 7.3 32.0 5.2 6.4 5.9 23.7 16.7 4.7 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 5.5% 7.2% 8.5% Operating Profit Margin (%)
Slide 28: With performance improvements across all product verticals
With performance improvements across all product verticals % NGR by product vertical Live table gaming 46% 14% Slots 27% 9% CAGR Electronic table gaming 16% 16% FY23 – FY25 Poker 6% 6% Other 6% 3% FY25
Slide 29: …and moreover, "the great wait is over"
…and moreover, “the great wait is over” Peel Hunt – 17 July 2025 Deutsche Numis – 10 July 2025 Shore Capital – 14 August 2025
Slide 30: A once in a generation opportunity
A once in a generation opportunity While growth in the global bricks and …in the UK, growth has been constrained by mortar casino market has been driven by the number of permitted slots, 20 per casino gaming machines… licence Global casino market (GGY) 140 Selected markets product mix (Casino GGY) 1
Slide 31: …with Grosvenor well placed to capitalise
…with Grosvenor well placed to capitalise The most recognised casino Prime locations in most brand in the UK* major towns and cities Scale allows for increased Our venue footprint provides suppliers and the opportunity to access to more exciting maximise slot numbers content *Rank Group Brand Tracke
Slide 32: The chapters of our story to £9.5m+ NGR per week
The chapters of our story to £9.5m+ NGR per week Chapter 5 Chapter 4 Accelerated growth £9.5m+ NGR per Chapter 3 week Enablers Chapter 2 Customer centric brand Chapter 1 building Building Cultural change Delivering return on momentum & colleague Product investment engagement Recovery & growth £8m+ N
Slide 33: Our accelerated growth strategy
Our accelerated growth strategy Customer centric brand Enablers building Our medium-term ambition: Cultural change & colleague engagement Operating Weekly NGR Operating profit margin >£10m £9.5m+ profit margin >500bps >15%FY25 versus Unrivalled products & service Drivers A seamless cross-channel exp
Slide 34: Customer centric brand building
Customer centric brand building Chris Edgington Chief Marketing Officer, Grosvenor
Slide 35: Our accelerated growth strategy
Our accelerated growth strategy Customer centric brand building Our addressable market Enablers Cultural change & colleague engagement Casino customers Unrivalled products & service The player experience Drivers A seamless cross-channel experience Data, automation & analytics
Slide 36: We have a sizeable addressable market
Customer centric brand building We have a sizeable addressable market UK venues gambling market UK digital gambling market £4.0bn (GGR)1 £6.1bn (GGR)3 Betting Shops (£2.5bn) Sports and sports led slots (£3.7bn) Casino (£0.8bn) Casino and casino led slots (£1.2bn) Adult Gaming Centres (£0.7bn) Solus
Slide 37: We have 1.25m active customers
Customer centric brand building We have 1.25m active customers Venues Digital 1m 250k Customers Customers 75% 60% 66% 40% are Male 18-34 are Male 18-34 High propensity for Roulette & Blackjack 15% High propensity for Slots & Live Casino 22% visit more than 6 times play at least once a year a week FY
Slide 38: Introducing our Grosvenor casino players
Customer centric brand building Introducing our Grosvenor casino “players” They are sociable, have high expectations, and a desire to be immersed in games that are expertly delivered; 3 distinct attitudinal cohorts: The thrill of high stakes games, An immersive experience, where A place to relax and
Slide 39: Grosvenor is for the player
Customer centric brand building Grosvenor is for the player We have built a distinctive brand proposition that builds on our heritage, knowledge, and expertise Human truth You’re either a gambler, or you’re not: it’s in your DNA Market truth Brand truth The casino category has An experience crafted
Slide 40: We understand the casino customer journey
Customer centric brand building We understand the casino customer journey We use a six-stage map to detail the Grosvenor player experience in venues & online 1 Instinct 2 Decisions 3 Start 4 Play-centred experience 5 Finish 6 Re-engage Get Get in the Offers & ready zone info Post play analysis Who?
Slide 41: "The Play" is at the centre of the customer journey
Customer centric brand building “The Play” is at the centre of the casino customer journey The Play Motivations gy Special occasion 2 Compete te An tra tic 1 S ipation Stages of play Social 3 Routine Ce l e b r a ti o n Relax Thrill
Slide 42: Blueprint for a differentiated Grosvenor player experience
Customer centric brand building We are building a blueprint for a differentiated Grosvenor player experience in venues 1 Instinct 2 Decisions 3 Start Signature 4moments Play-centred experience 5 Finish 6 Re-engage Get Get in the Offers & ready zone info Who? “Wow” first Breathtaking Fantastic farewe
Slide 43: We will continue to focus on data, automation, and analytics
Customer centric brand building We will continue to focus on data, automation, and analytics Predictive Segmentation Optimisation analytics powered (Prestige, Regular & from AI Leisure Players) by AI (Automation) (Machine Learning) Central Engagement Platform = Single view of the customer Personalis
Slide 44: Building Grosvenor Casino's customer centric brand
Customer centric brand building Building Grosvenor Casino’s customer centric brand Strong foundations: With land-based reform: Build retention & loyalty Broadened from existing customers addressable market Upweighted slots proposition & sports betting = Increased choice & better products Build share
Slide 45: Cultural change & colleague engagement
Cultural change & colleague engagement Vicki Shaw People Director, Grosvenor
Slide 46: Our accelerated growth strategy
Our accelerated growth strategy Customer centric brand building Our cultural change programme Enablers Cultural change & colleague engagement Establishing a blueprint for how we operate Unrivalled products & service Drivers Continued investment in our A seamless cross-channel experience colleagues
Slide 47: People & culture are key strategic enablers of our success
Cultural change & colleague engagement People & culture are key strategic enablers of our success Overall Voluntary turnover Customer NPS engagement 53% 69 8.4 7.0 27% 64 May 2023 May 2025 July 2023 October 2025 FY23 FY25 4.3% median 43% of leadership 35% 8.6% gender pay gap roles held by women Gend
Slide 48: Our cultural change programme is inspiring our colleagues
Cultural change & colleague engagement Our cultural change programme is inspiring our colleagues Brave and determined leaders A place where everyone is proud to work Our winning behaviours Why our customers love us 48
Slide 49: Our winning behaviours...
Cultural change & colleague engagement Our winning behaviours...
Slide 50: ...are providing a blueprint for how we operate
Cultural change & colleague engagement ...are providing a blueprint for how we operate How likely is it that you would recommend “From Like to Love has completely changed my Grosvenor as a place to work? perspective on work. I no longer go to work for the 8.4/10 paycheck I go to make the Riverboat t
Slide 51: We will continue to invest in our colleagues
Cultural change & colleague engagement We will continue to invest in our colleagues Future General Leading From Leadership Manager Game Changers Like to Love development Programme
Slide 52: Unrivalled products & service, seamless cross-channel experience
Unrivalled products & service Seamless cross-channel experience Mark Harper Managing Director, Grosvenor
Slide 53: Our accelerated growth strategy
Our accelerated growth strategy Customer centric Continuing momentum in brand building Enablers table gaming Cultural change Transforming our slots & colleague engagement proposition Unrivalled products & service Investing to create modern, Drivers premium environments A seamless cross-channel exper
Slide 54: Continuing momentum in our table gaming proposition
Unrivalled products and service Continuing momentum in our table gaming proposition Live table gaming Electronic table gaming Continued investment in upgrading live table gaming with new roulette wheels and tables from leading suppliers 46% 16% Ongoing development of electronic table gaming with of
Slide 55: Additional slots will transform the customer experience…
Unrivalled products and service Additional slots will transform the customer experience… Pre land-based reform Post land-based reform Up to 80 slots per venue to better meet A maximum of 20 slots per licence meant that customer demand demand exceeded supply Less waiting time for popular games Crowdi
Slide 56: …and aligns with our commitment to safer gambling
Unrivalled products and service …and aligns with our commitment to safer gambling Pre land-based reform: clear correlation between the average dwell time on slots and peak occupancy Slots Machine Analysis Occupancy & Minutes Played Per Hour 100% 20 Pre land-based reform, at peak times, lack of avail
Slide 57: We have moved quickly to capitalise on land-based reform
Unrivalled products and service We have moved quickly to capitalise on the opportunity of land-based reform Where we stand today Total Slots numbers 3,144 +130% 2,867 Average weekly NGR 2,217 1,500 1,777 38/38 562 850 Licences approved Incremental slots 1,367 1,367 1,367 1,367 1,367 Average weekly N
Slide 58: Transforming our proposition – stages of growth
Unrivalled products and service Transforming our proposition – stages of growth Stages of growth Pre LBR Launch Build Broaden appeal Launch: Satisfying unmet demand by installing Slots revenue potential Medium-term additional slots Build: Increasing market share across the wider gambling sector with
Slide 59: Transforming our proposition – incremental slots opportunity
Unrivalled products and service Transforming our proposition – incremental slots opportunity Slots growth going beyond unmet demand to maximise customer impact Available space to Current unmet Incremental slots Market potential accommodate demand added incremental slots Didsbury High Medium High +30
Slide 60: Transforming our proposition – early days, but positive signs
Unrivalled products and service Transforming our proposition – early days, but positive signs Didsbury Cardiff # weeks Av. weekly NGR # weeks Av. weekly NGR Incremental Slots NGR per incremental Incremental Slots NGR trading post trading post per incremental slots growth v PY slot machine slots grow
Slide 61: Focused capital investment to maximise land-based reform
Unrivalled products and service Focused capital investment to maximise the opportunity of land-based reform Southampton Brighton Bolton Target completion date Q2 FY26 Target completion date Q2 FY26 Target completion date Q2 FY26 Incremental slots 45 Incremental slots 40 Incremental slots 60 Estimate
Slide 62: Many more opportunities to spend capital wisely
Unrivalled products and service Many more opportunities to spend capital wisely with attractive returns Coventry Liverpool Newcastle Incremental slots 40 Incremental slots 40 Incremental slots 60 Estimated spend £3m Estimated spend £2.5m Estimated spend £3m Refurbishment scope Major Refurbishment sc
Slide 63: Introducing sports betting provides a new income stream
Unrivalled products and service Introducing sports betting provides a new income stream and the opportunity to broaden the appeal of casinos UK land-based sports betting A staple of the Sports betting will market generates 24/7 sports betting global casino broaden the £1.2bn GGR market appeal of cas
Slide 64: Our venues footprint provides the opportunity to test and learn
Unrivalled products and service Our venues footprint provides the opportunity to test and learn Full-service sports Self Service Betting Terminals betting lounges (SSBTs) A dedicated sports area providing a premium SSBTs positioned experience for watching and throughout the betting on sports 24/7 ga
Slide 65: Our accelerated growth strategy
Our accelerated growth strategy Customer centric brand building A catalyst for growth through Enablers retention and deeper customer relationships Cultural change & colleague engagement Unrivalled products Our unique point of difference & service Drivers A seamless cross-channel experience Our cross
Slide 66: Seamless cross-channel – a catalyst for growth
A seamless cross-channel experience Seamless cross-channel – a catalyst for growth Most customers seek a Customers think in terms Our venues provide the multi-channel experience of brands not channels perfect billboards for building awareness >70% of gamblers play both in A seamless brand journey, n
Slide 67: Redesigning the Grosvenor brand experience
A seamless cross-channel experience Redesigning the Grosvenor brand experience Our Past Our Future Integrated product and content Channel-specific product and content Separate offers, promotions, and Personalisation and tailored communication experiences Dual sign-up process Single sign-up Manual li
Slide 68: Some progress but lots to do
A seamless cross-channel experience Some progress but lots to do Enhanced Improved promotion of "Live From" brings live representation of our the online experience in casino online venues online venues
Slide 69: Our cross-channel roadmap
A seamless cross channel experience Our cross-channel roadmap Building new features to further realise a seamless customer journey Integrated cross- Enhanced single Rewards & Personalised offers Frictionless entry channel content wallet incentivisation A seamless Continue to extend Targeted offers,
Slide 70: We are at a key inflection point in our growth plan
We are at a key inflection point in our growth plan Solid foundations built for our next stage of growth Transformed colleague and customer engagement Sustained revenue and profit growth Once in a generation opportunity of land-based reform A clear plan to accelerate growth
Slide 71: Our accelerated growth strategy
Our accelerated growth strategy Customer centric brand building Enablers Our medium-term ambition: Cultural change & colleague engagement Operating Weekly NGR Operating profit margin >£10m £9.5m+ profit margin +500bps >15% Unrivalled products versus FY25 & service Drivers A seamless cross-channel ex
Slide 72: A new era of gaming
Unrivalled products and service A new era of gaming Deep customer understanding driving personalised engagement and brand loyalty Expanding and transforming our core gaming propositions to broaden appeal Strategic investments to create modern premium environments with elevated service propositions B
Slide 73: Closing remarks
Closing remarks Richard Harris Chief Financial Officer
Slide 74: The drivers of £9.5m+ NGR per week in Grosvenor
The drivers of £9.5m+ NGR per week in Grosvenor Enhancing the customer proposition Land-based reform Continued momentum in table gaming Additional gaming machines Enhanced electronic gaming offer Broader choice of machine suppliers and games The home of Poker in the UK Sports betting – test and lear
Slide 75: High operating leverage contributes to profit delivery
High operating leverage contributes to profit delivery Contribution to operating profit of We are not immune to operating cost pressures: incremental revenue 50-80% • Employment costs • Duties 50-80% 50-55% 50-60% • Depreciation 40-60% • Other cost inflation Revenue growth is critical to driving pro
Slide 76: The Rank Group investment case
The Rank Group investment case Medium term • Grosvenor NGR £9.5m+ per week and Targeted investment to Market leading positions margin improvement of 500bps maximise shareholder in attractive markets value • Digital 8 – 12% CAGR and further margin improvement from FY27 • Mecca return to double digit
Slide 77: @ Rank (ey.
@ Rank (ey. (x® Group Y For the Player