First Published 14th March, 2024, Last updated 12th April, 2024
| TL;DR | Rank Group receives a final score of 4.5 (Good – Nice choice! Go have fun!). The operator is on the right path toward sustainable and responsible gaming practices. Continued efforts in compliance, transparency enhancement, and maintaining a robust ESG strategy will further solidify its position as a leader in the industry. |
| Transparency |  |
Rank Group scores high in transparency, evident through its comprehensive reporting practices. | |
| ESG Strategy |  |
The company earns a 5 for its robust ESG strategy, including ambitious targets for climate neutrality. | |
| Sanctions |  |
Rank Group’s score reflects past challenges with sanctions and controversies, though recent improvements are noted. | |
| 3rd Party Rating |  |
Rank Group maintains a positive public rating and has received numerous awards for its initiatives. |
Rank Group is on the right path toward sustainable and responsible gaming practices. Continued efforts in compliance, transparency enhancement, and maintaining a robust ESG strategy will further solidify its position as a leader in the industry.
| Name | Rank Group plc |
|---|---|
| Company Type | Public (LSE: RNK) |
| Location(s) | 
|
| Presence | Online and land-based casinos, betting shops |
| Products | Online and land-based casino products, live dealers, poker, scratch cards & instant win games, sports-betting |
| Brands | 3 land-based brands and 11 online brands among which: Grosvenor Casino, Sports & Poker, Mecca Bingo, YoBrands (YoBingo, YoCasino, YoSports, Enracha), The Rialto, Kitty Bingo, Lucky Pants Bingo, Lucky VIP, Magical Vegas, Regal Wins, Spin & Win, Rummy Passion, Bella Casino |
| Licences |  
|
| Key markets |
|
| ESG/Sustainability Report | Yes |
| Reporting standard | In line with SASB and TCFD, with reference to GRI |
Rank Group plc, a prominent entity in the gambling sector, oversees a range of land-based and digital platforms. Originating as Rank Organization in 1937, the company underwent a rebranding in 1996 to become Rank Group plc. As of June 2023, Rank Group effectively manages 51 casinos and 59 bingo venues across Great Britain, alongside an additional nine bingo venues in Spain. With a diverse portfolio of brands such as Grosvenor and Mecca Bingo, Rank Group serves a broad market within the gaming industry, offering a variety of entertainment options to its patrons.
The company’s rich history and extensive network of venues reflect its significant presence in both the British and Spanish gambling markets. Through its iconic brands like Grosvenor and Mecca Bingo, Rank Group has established itself as a key player, providing customers with diverse gaming experiences. As the industry evolves, Rank Group’s strategic management of its casinos and bingo venues positions it as a notable entity in the ever-changing landscape of the gambling sector.
Key Performance Indicators (KPIs) for Rank Group plc based on the fiscal year ending June 30, 2023:
Rank Group plc’s financial performance from July 1, 2022, to June 30, 2023, is marked by robust figures:
| Total Revenue
|
The company generated £681.9 million in revenue during this period, showcasing its strong market presence and customer engagement.
|
|
Total Profit
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Rank Group achieved a total profit of £95.3 million, demonstrating solid financial performance and efficiency in its operations. |
|
Investment in Sustainability
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In terms of environmental impact, Rank Group’s total emissions were 36.6 tCO2e per £m Net Gaming Revenue (NGR). This metric signifies the company’s commitment to monitoring and managing its carbon footprint. By disclosing this figure, Rank Group shows transparency in its environmental efforts and aligns with sustainability practices in the industry. |
|
Number of Employees
|
Rank Group plc has a total of 7,300 employees as of 2023, indicating its substantial workforce and operational capacity. |
| Key Performance Indicator | Metric | Performance |
|---|---|---|
| Total Revenue | £681.9 million (↑ 165%) | |
| Total Operating Costs | £253.8 million | |
| Total Taxes Paid | £142.2 million | |
| Total Profit | £95.3 million | |
| Total Emissions | 36.6 tCO2e per £m NGR | |
| Total Number of Employees | 7,300 |
By analyzing and benchmarking these KPIs, Rank Group plc gains valuable insights into its overall performance, identifies areas for improvement, and makes informed strategic decisions to drive sustainable growth in the highly competitive gaming industry.
In this section, we explore the Environmental, Social, and Governance (ESG) practices of Rank Group. Understanding a company’s ESG commitments is crucial for investors, stakeholders, and the general public to assess its impact on the environment, society, and governance structures. We delve into Rank Group’s initiatives, strategies, and performance in these key areas, shedding light on its sustainability efforts and social responsibility. For a comprehensive guide on ESG in the iGaming industry, you can visit Better World Casinos – Understanding ESG and iGaming.
Rank Group plc has established a dedicated ESG & Safer Gambling Committee, showcasing its commitment to effectively manage and address ESG-related concerns within its operations. This committee plays a pivotal role in overseeing and guiding the company’s initiatives related to environmental sustainability, social responsibility, and governance practices. By having a specialized committee focused on ESG and safer gambling, Rank Group demonstrates its recognition of the significance of these issues within the industry and its commitment to responsible gaming.
In addition to the ESG & Safer Gambling Committee, Rank Group has implemented Working Groups that concentrate on specific aspects of ESG, allowing for a more detailed and targeted approach to addressing ESG challenges and opportunities. These focused Working Groups enable the company to allocate resources efficiently and address specific ESG concerns with greater depth and expertise.
Rank Group has identified four key areas of focus within its ESG strategy: Customers, Colleagues, Environment, and Communities. Each of these focus areas represents critical aspects of the company’s operations and impact on stakeholders.
| Customers
|
This area underscores Rank Group’s commitment to providing safe and responsible gaming experiences, ensuring customer well-being is a top priority. |
|
Colleagues
|
Prioritizing Colleagues highlights the importance of employee well-being, diversity, and inclusion within the organization, fostering a positive work environment. |
|
Environment
|
Signifying the company’s dedication to reducing its environmental footprint and promoting sustainability, this focus area aligns with global environmental goals and best practices. |
|
Communities
|
This emphasizes Rank Group’s role in supporting and positively contributing to the communities in which it operates, showcasing a commitment to social responsibility. |
These key areas serve as guiding principles for Rank Group’s ESG initiatives, ensuring a comprehensive and balanced approach to sustainability and responsible business practices.
Overall, The Rank Group PLC’s ESG strategy and governance framework reflect its commitment to addressing environmental, social, and governance issues proactively and responsibly. Rank Group holds a FTSE4GOOD membership certificate, underscoring its dedication to ESG criteria and responsible business practices.
In this section, we delve into the company’s efforts towards environmental sustainability and its initiatives to reduce its carbon footprint. For a detailed overview of Rank Group’s environmental strategies, you can also visit ESG Environment page.
Rank Group plc is committed to achieving climate neutrality across its entire value chain, targeting Net Zero by 2050. Allocating a £57 million budget over 12 years, the company focuses on climate-related initiatives, including carbon offsets, grid abatement, and renewable energy supply. The sustainability report outlines a roadmap for emission reduction, with interim goals for 2035 and achieving climate neutrality by 2050.
Rank Group plc is committed to achieving climate neutrality across its entire value chain, targeting Net Zero by 2050. Allocating a £57 million budget over 12 years, the company focuses on climate-related initiatives, including carbon offsets, grid abatement, and renewable energy supply. The sustainability report outlines a roadmap for emission reduction, with interim goals for 2035 and achieving climate neutrality by 2050.
While specific details on waste and water management are limited, the company actively engages in initiatives like replacing lighting with LED, installing smart-sensing devices, raising environmental awareness internally, and conducting training sessions on energy management for employees.
| Environmental Champions
|
Identify suitably motivated and willing colleagues to advocate climate-positive sentiment and actions in their workplaces. |
|
Communications
|
Establish a comms plan to provide regular and relevant messaging to internal and external communities to inform, stimulate, and motivate positive behaviors. |
|
Incentives & Recognition
|
Fund and implement suitably oriented schemes to recognize and reward positive contributions and excellent behaviors. |
In this section, we explore the company’s initiatives related to social responsibility, employee engagement, and community involvement. For a comprehensive view of Rank Group’s social endeavors, you can also visit ESG Social page.
| Employees
|
With a global workforce of around 7,500 employees, Rank Group emphasizes creating a positive working environment.
Well-being programs, including colleague forums, surveys, healthcare, and financial support initiatives, contribute to employee satisfaction. |
|
Gender
|
Glassdoor ratings indicate a 3.6 overall score out of 5 stars, with positive reviews highlighting a good working environment. |
| Responsible Gambling
|
Rank Group claims to have generated £180.4 million for tax authorities and local governments globally. |
|
Charitable Partnerships
|
Collaborations with charitable organizations in the UK include partnerships with Carers Trust and contributions to various events and initiatives. |
|
Community Engagement
|
Collaborations with charitable organizations and contributions to events and initiatives. |
|
Responsible Marketing
|
Detailed initiatives to promote responsible gambling and community engagement. |
This comprehensive approach by Rank Group PLC showcases its commitment to environmental sustainability, social responsibility, and governance practices. Through clear targets, initiatives, and detailed reporting, Rank Group demonstrates its dedication to achieving Net Zero emissions and fostering positive social impact.
For any organization, governance forms the backbone of its operations, shaping its transparency, integrity, and regulatory compliance. It encompasses the structures and processes through which companies are directed and controlled. To delve deeper into the governance practices within the iGaming industry, visit Better World Casinos – ESG and Governance.
Rank Group plc places a strong emphasis on governance practices to ensure transparency, integrity, and ethical conduct throughout its operations. This section highlights the company’s governance structure, committees, and policies that guide its decision-making processes.
Throughout the year, Rank Group has maintained a proactive approach to engaging with Members of Parliament (MPs), government officials, and regulatory bodies. This engagement is crucial, particularly given the evolving landscape of gambling legislation. Rank Group has participated in industry bodies and associations, such as the Betting and Gaming Council (BGC) and the Bingo Association, to contribute to the development of customer-oriented laws and regulations.
Responding to consultations and proposed changes by regulatory bodies like the UK Gambling Commission has been a priority. This includes providing valuable feedback on regulatory reforms and ensuring Rank’s voice is heard during the consultation process. The Chief Executive and other key executives have attended meetings with regulators, including the Commission’s chairs roundtables and NEDs roundtables, to discuss industry developments and compliance matters.
In addition to formal engagements, Rank Group has also hosted events and meetings with MPs and government officials. This includes participation in party conferences such as the Conservative and Labour conferences, providing opportunities for dialogue on key industry topics.
Rank Group’s Code of Conduct sets high standards for ethical conduct across the organization. It emphasizes honesty, integrity, and transparency in all business dealings. Colleagues are expected to handle conflicts of interest responsibly and avoid situations where personal interests could conflict with Rank’s interests.
The Code also emphasizes the importance of full, fair, and accurate disclosure in all communications, including financial statements and reports. There is a zero-tolerance policy towards fraud, with colleagues responsible for preventing and detecting any fraudulent activity. Compliance with applicable laws, regulations, and licensing objectives, particularly in the gambling industry, is a fundamental principle.
Rank Group has implemented an enterprise-wide risk management approach, integrating it into the organizational structure and responsibilities. The Board has overall responsibility for the risk management framework and establishes the Group’s risk appetite. The Audit Committee plays a crucial role in assessing the ongoing effectiveness of the risk management framework and reviewing mitigation plans for material risks.
Risk identification is a continuous process, with risks assessed for likelihood and consequence. Each risk has a designated “risk owner” from the executive committee responsible for defining mitigations, which are regularly reviewed for effectiveness. The risk management approach is subject to regular review and updates to reflect emerging risks, ensuring a comprehensive and up-to-date risk register.
Rank Group maintains a zero-tolerance approach to bribery and corruption. The Code of Conduct outlines guidelines for giving and receiving gifts, hospitality, and other benefits. Colleagues are encouraged to report any suspected fraudulent activity, with mechanisms in place for anonymous reporting if needed.
All forms of bribery are strictly prohibited and may result in disciplinary action, including termination and prosecution. The policy extends to kickbacks and other improper inducements. Rank Group is committed to acting professionally, fairly, and with integrity in all business dealings, ensuring compliance with anti-corruption laws and regulations.
The ESG and Safer Gambling Committee plays a vital role in Rank Group’s sustainability efforts. It assists in formulating and reviewing the Group’s strategy relating to ESG and safer gambling matters. The committee provides oversight of the Group’s management of these matters, ensuring they are integrated into the business strategy.
Player protection and safer gambling are key priorities for Rank Group, not just for compliance but as a core value. The committee helps embed safer gambling as a driver of behavior among colleagues and customers. It ensures that each colleague takes responsibility for providing a service that is safe, fair, and responsible.
Rank Group makes a significant contribution to the UK and other economies through tax payments, employment, and indirect economic impacts. Details of gaming duty and taxes paid in various jurisdictions are provided, demonstrating compliance with UK and international tax laws.
The Group’s tax strategy is aligned with its overall business strategy, supporting sustainable growth and responsible tax practices. Rank Group’s commitment to transparency in tax reporting and compliance is evident in its detailed tax policies and contributions.
Transparency in CEO compensation is a priority for Rank. The Remuneration Committee ensures that executive compensation is aligned with performance and shareholder interests. The CEO’s compensation is reviewed and updated regularly, taking into account market benchmarks and Rank Group’s performance.
The Remuneration Committee chair maintains open communication with major shareholders and proxy advisers, seeking feedback on remuneration matters. This dialogue helps ensure that executive compensation reflects Rank Group’s performance and strategic objectives.
Rank Group’s corporate structure includes a Board of Directors and an Executive Committee. The Executive Committee is responsible for day-to-day operations and is accountable to the CEO for promoting and developing a profitable, long-term business.
The Board provides oversight of the risk management framework, strategy formulation, and governance. Various committees, such as the Audit Committee and the ESG and Safer Gambling Committee, support the Board in fulfilling its responsibilities.
The ESG and Safer Gambling Committee assists the Board in formulating and reviewing the Group’s strategy relating to ESG and safer gambling matters. It provides oversight of the Group’s management of these matters, ensuring they are integrated into the business strategy.
The Audit Committee plays a crucial role in assessing the ongoing effectiveness of the risk management framework and reviewing mitigation plans for material risks. It is responsible for ensuring the integrity of financial reporting and compliance with accounting standards and regulatory requirements.
Rank Group’s financial performance is detailed, including tax payments, revenues, and contributions to economies. The Group’s commitment to transparency in financial reporting is evident in its compliance with financial regulations and standards.
Highlights from Annual General Meetings and investor engagements are provided, demonstrating Rank Group’s commitment to open and transparent communication with shareholders and investors. The financial section also outlines the Group’s contributions to the UK and other economies through tax payments, employment, and community initiatives.
Rank Group has faced regulatory scrutiny and legal settlements related to anti-money laundering controls and the protection of problem gamblers. Notably, the UK Gambling Commission imposed a fine of over £700,557 for non-compliance with licensing and codes of practice between October 2019 and February 2021. This fine was a result of an investigation into Rank’s operations.
On October 10, 2018, Rank Group faced a significant penalty for failing to protect a problem gambler, resulting in a fine of £500,000. The UK Gambling Commission investigation revealed several failures on Rank’s part, including:
These failures specifically related to a customer who engaged in substantial gambling activities with Rank’s land-based Grosvenor Casino and online at grosvenorcasinos.com. In a troubling 24-hour period, the customer incurred losses amounting to £1 million, which had been credited to his account.
Richard Watson, Gambling Commission executive director, strongly emphasized the Commission’s stance on responsible gambling and operator obligations. He stated:
“We expect all operators to protect any consumer who may be experiencing problems with their gambling, and operators shouldn’t fall into the trap of thinking that VIP customers don’t experience difficulties.
“No matter how wealthy customers are, operators still need to monitor them effectively to ensure they aren’t showing signs of problem gambling. It is certainly not appropriate to visit customers during a period when they are self-excluded.
“This penalty package would have been a lot higher were it not for the positive action Rank took in terms of self-reporting their failures and being open and transparent during our investigation.”
In response to these findings, Rank Group has implemented stricter measures to ensure compliance with gambling regulations and the protection of vulnerable customers. These measures include enhanced training for staff, improved monitoring systems, and a commitment to self-reporting any future failures to regulatory bodies.
Rank Group acknowledges the seriousness of these issues and remains dedicated to continuously improving its responsible gambling practices. The company is committed to learning from past mistakes and upholding the highest standards of player protection and regulatory compliance.
Rank Group plc is dedicated to contributing to several UN Sustainable Development Goals (SDGs), aligning its initiatives with global sustainability targets.
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Through responsible gambling initiatives and robust metrics, Rank Group promotes the well-being of its customers. This includes addressing concerns related to problem gambling and ensuring a safe gambling environment for all.
By prioritizing customer welfare, Rank Group actively contributes to improving mental health and overall well-being within the community. |
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Rank Group supports diversity and inclusion, fostering a multicultural workforce across its various locations.
Employee forums, surveys, and continuous learning initiatives create a positive working environment, enhancing the quality of education and skill development for its employees. |
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With a commitment to achieving a 50:50 gender balance in leadership positions, Rank Group actively promotes gender equality within its organizational structure.
By ensuring equal opportunities for all genders, Rank Group supports the advancement of women in leadership roles, contributing to a more gender-balanced society. |
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Rank Group focuses on creating a positive work environment and implementing well-being programs for its employees.
These efforts contribute to decent work conditions and economic growth, enhancing job satisfaction and productivity among its global workforce. |
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The company’s commitment to diversity and inclusion works towards reducing inequality within the organization.
By fostering an inclusive workplace for employees of diverse backgrounds, Rank Group promotes equality and reduces disparities in opportunity. |
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Rank Group’s climate targets, waste reduction initiatives, and carbon offsetting practices align with responsible consumption and production practices.
These efforts contribute to a more sustainable business model, reducing the company’s environmental footprint and promoting efficient resource use. |
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Rank Group has set ambitious climate targets, reduced emissions, and implemented carbon offsetting efforts outlined in its sustainability report.
These actions significantly contribute to addressing climate change, supporting global efforts to combat environmental challenges and promote a sustainable future. |
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Rank Group actively engages in partnerships with various organizations and stakeholders to achieve sustainable development goals.
By collaborating with others, Rank Group recognizes the importance of collective efforts in addressing societal and environmental challenges, fostering a more sustainable and resilient future for all. |
Rank Group continues to earn prestigious awards, solidifying its position as a leader in the gaming industry. Here are some of the notable awards received by Rank Group, including its recent achievement:
Final Score: 4/5
Rank Group plc, a leading entity in the gambling industry, demonstrates commendable commitment to sustainability, responsible gaming, and transparency. The company’s sustainability report serves as a roadmap for its journey towards achieving climate neutrality, outlining specific steps and budgets for sustainability initiatives. With a robust ESG strategy, Rank Group aligns its efforts with leading frameworks and sets ambitious targets.
While facing challenges in compliance and past controversies, Rank Group has shown improvements and a proactive approach to cooperation and self-reporting. Positive public ratings on Glassdoor and numerous awards reflect a favorable perception among stakeholders.
Note: This scorecard is based on the BWC rating system, providing an assessment of Rank Group’s sustainability performance across transparency, ESG strategy, sanctions, controversies, and public ratings. It offers a snapshot view for stakeholders and investors, highlighting the company’s strengths and areas for improvement.
Disclaimer data: This analysis is based on publicly available information, and future reviews will delve deeper into ESG reporting and potential improvements through interviews with company representatives.
Source Material: Refer to the provided hyperlinks for detailed sources.
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