Rank Group PLC (LSE:RNK) said it welcomes the Government's response to the land-based consultation launched in July 2023, which marks “an important step closer to the passing of secondary legislation”, said the Grosvenor Casinos and Mecca Bingo owner.
The current maximum of 20 machines per licence will rise to 80 machines and see Grosvenor Casinos broadly doubling B1 gaming machine numbers from 1,361 currently.
“We intend to add the first 700 machines during FY25, with further machines being added in the following years in line with property refurbishments, extensions and relocations.
“Sports betting will be permitted in all casinos and we will be introducing various sports betting concepts in a number of Grosvenor venues.
“We welcome the Government's commitment to removing the prohibition on direct debit card payments on gaming machines, alongside the introduction of appropriate player protections."
In land-based bingo, the introduction of a 2:1 ratio in clubs will enable Rank to increase its current Category B3 cabinet numbers by around 500 machines.
“This change will allow us to gradually remove ageing, reel-based machines from our Mecca estate. Overall, the Government's policy will enable us to reduce the number of cabinets across our Mecca estate," said the company.
John O'Reilly, chief executive of The Rank Group Plc added: "Today's government response to the land-based consultation is good news for Rank.
“Providing the legislation is on the statute books by recess in late July, we are looking forward to improving the customer proposition in our venues with a roadmap of investments and improvements in the months and years that follow.
“The legislative modernisations cannot come a moment too soon, so we are pleased with the progress contained in today's announcement."