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Stakeholder engagement

Our long-term success must take account of what is important to our key stakeholders. By our proactive engagement, this will help us to identify and focus on the issues that matter most, and allow us to factor in our stakeholders’ views into effective decision-making. Active stakeholder engagement is a key part of how we effectively manage risks and unlock opportunities.

While the majority of engagement with stakeholders takes place within the business divisions and is led by divisional management, the Board engages directly with certain stakeholders. The Directors are also kept regularly appraised of all stakeholders’ views through divisional reports to the Board, so that Directors are able to have regard to such views in their decision-making, as illustrated by reference to various stakeholders’ interests in our Section 172(1) statement on page 42 and the case studies on pages 43 and 44. We also engaged with key stakeholders in conducting the materiality assessment that shaped and informed our ESG strategy. For more information, see our 2023 Sustainability Report.

Understanding and balancing the respective needs and expectations of our stakeholders over the past year has been as important as ever and we remain committed to doing so.

 

Customers

Ensuring our customers are at the heart of our decision-making is crucial to our strategy. Understanding their changing needs, preferences and behaviours helps us to ensure that our offering remains safe, fair, current and appealing.

Key areas of consideration

  • Player protection
  • Customer experience
  • Relevance of offering
  • Health, safety and wellbeing

How we engage

We host, serve and engage with our customers each and every day through our engagement in venues and our digital platforms. This includes discussing their overall experience, safer gambling, affordability and welfare. We also regularly engage with our customers through quantitative and qualitative research to seek their views, opinions and insights into how we can improve our products, services and user journeys.

2022/23 highlights

  • Sought local insights through intercept interviews following our rebranded and refurbished Grosvenor Merchant City casino in Glasgow.
  • Simplified the delivery of customer views and experiences to our Venues teams, this ensured they were well equipped with a holistic understanding of our customer’s views to improve the customer venue experience.
  • Participated in a leisure industry study to measure the impact of the ‘cost of living’ pressures.
  • Conducted customer research to determine motivations behind change in customer behaviours.
  • Sought customer views through surveys on our food and beverage offerings, including price sensitivities.
  • Utilised our programmes to monitor our cross-channel offers and journey for venues to digital players.

 

Our colleagues

Our people are the heart and soul of the business and a key enabler to its success. We depend on their passion and commitment to implement our strategy and ensure our customers are served in the best possible way.

Key areas of consideration

  • Opportunities for progression
  • Inclusion and diversity
  • Fair pay and reward
  • Opportunities to share ideas and make a difference
  • Health, safety and wellbeing

How we engage

We seek an open dialogue culture and host forums throughout the year to enable the exchange of opinion between colleagues and the sharing of views with senior management and the Board. Other engagement methods include, but are not limited to, monthly Group and business unit Town Halls, frequent updates and corporate communications to share news and developments, employee opinion surveys, regular performance and development reviews and venue visits by Board members and senior management.

We also continue to offer a confidential whistleblowing hotline to all colleagues.

2022/23 highlights

  • Regular communication Group-wide by way of our Get Connected programme, which continued to evolve during the year.
  • A review of communications and engagement platform has also taken place and new technology will be implemented in 2023/24.
  • Social media forums for Grosvenor and Mecca colleagues to express views and share news.
  • Monthly Town Hall meetings with Q&A sessions available to colleagues in all jurisdictions to attend, and which included a regular rotation of updates from each of our businesses, of regulatory news, along with people & culture initiatives.
  • Employee Voice meetings attended by elected representatives from the business, the Chief Executive and Chief People Officer.
  • Talking STARS and Leading STARS forums held and attended by the designated Non-Executive Director.
  • Conducted a full Employee Opinion Survey in October 2022 and a ‘pulse survey’ in May 2023 and implemented action plans following a review of results. Follow up sessions were held to improve visibility of changes coming out of the action plans.
  • STARS values awards continued to recognise individuals and/or teams for demonstrating Rank’s values in their work, nominated by their peers.
  • Continued to focus on our six ED&I colleague network groups: Wellbeing; Women; Racial Equality and Diversity; LGBT+; Families; and general ED&I (incorporating religious celebrations).
  • Introduced a range of activities and initiatives to make sure that our workplace is an enjoyable and supportive place to work, such as massages, yoga classes, providing breakfasts and lunches and arranging other social events.
  • Open and enhanced regular dialogue with Trade Unions and local representatives (London).
  • A programme of virtual and ‘in person’ colleague sessions held with the Designated Non-Executive Director for work force engagement (also the Remuneration Committee Chair) who kept the Board appraised of these engagements. These reports provided the Board with valuable insights from colleagues.
  • Board Directors and Executives conducted site visits to engage first-hand with colleagues.

 

Communities

Community links are as important to Rank and its people as they are to our customers. Our businesses are more likely to succeed when they are part of healthy and supportive communities and we are committed to making a positive contribution to them.

Key areas of consideration

  • Charitable initiatives
  • Positive community impact
  • Employment
  • Reputation

How we engage

Our venues are community hubs in which people spend leisure time and engage and interact with other customers and with our colleagues. The strength of our business is in part due to the long-term trust and relationships which exist between our colleagues and customers, who very often will have known each other for many years. A key learning has also been how integral the role of our venues and keeping communities engaged has been particularly during, and as a result of, the pandemic.

We engage with the local community through volunteering, charity work and providing employment and work experience opportunities.

We are particularly proud of our nine-year partnership with Carers Trust.

2022/23 highlights

  • Continued to support our communities through a wide range of initiatives and sponsorships, such as Blackpool’s Pride event, preparing meals for the homeless and held the KAV cup poker event to raise funds for charity.
  • Supported the ‘Everyone Deserves an Easter’ campaign by distribution of hampers to local vulnerable and isolated people.
  • Raised £283,018.91 during the 2022/23 financial year for Carers Trust, which works to improve support, services and recognition for anyone living with the challenges of caring for a family member or friend who is ill, frail, disabled or has mental health or addiction problems.
  • Promoted Rank Cares Grants, a grant programme for carers in the community. The grants are offered under three areas: (i) Carers Essentials Fund: funding for vital equipment such as washing machines, cookers, fridge freezers or beds, (ii) Carers Take Time Out Fund: funding to allow carers some respite time, and (iii) Carers Skills Fund: funding to enable carers to learn new skills to further support their work as carers.
  • Promoted local job vacancies, working with local job centres and colleges to ensure job seekers can find local employment, and which has continued to be a successful recruitment method.
  • Supported Carers Trust to raise awareness of the charity, hosting the Carers Trusts CEO on our Mecca TV online channel and our social media careers.
  • In March, we supported the Young Carers Action Day which seeks to raise awareness of young carers and young adult carers.

 

Regulators and legislators 

Regulators and legislators play a key role in shaping the gambling landscape and an ongoing open dialogue is essential to ensure we better understand the expectations underpinning regulation and that regulation is founded in an understanding of the customer. Regulators also monitor the high standards by which we operate.

Key areas of consideration

  • Openness and transparency
  • Compliance with laws and regulations
  • Consumer fairness and player protection
  • Policy and the direction of future gambling regulation

How we engage

Establishing and developing relationships with elected parliamentarians, government officials, industry peers and key stakeholders (such as campaign groups and media) was a key focus in the UK during this year, particularly in light of the gambling legislative reforms and the publication of the White Paper.

Engagement was conducted both directly and through industry bodies, such as the Betting and Gaming Council (‘BGC’), the Casino Chapter (within the BGC) and the Bingo Association. We strive to establish strong working relationships with the aim that our contributions are valued in terms of delivering customeroriented laws and regulations.

From a compliance perspective, we participate in regular meetings and communications with the UK Gambling Commission (‘Commission’), as well as other regulatory bodies and authorities by whom we are licensed. We have ensured Rank remains a ‘strong voice’ as we navigate the consultation process following the regulatory reforms.

2022/23 highlights

  • Undertaken a programme of engagement with MPs and media during the year ahead of the anticipated UK Government’s White Paper for gambling reform and following its publication in April.
  • Encouraged our local MPs to visit and join our Mecca club events to celebrate National Bingo Day in June.
  • Attended and hosted at the Conservative party conference in Birmingham, and the Labour conference in Liverpool.
  • Chair attended the Commission’s chairs roundtables during the year.
  • Two of our Non-Executive Directors (‘NEDs’) attended the Commission’s NEDs roundtables held during the year, along with NEDs from other industries, new this year.
  • Chief Executive attended meetings held at the BGC offices with the Commission’s CEO and senior officials during the year, with the Director of Public Affairs deputising as needed.
  • Regular contact with officials in DCMS, including the current and former Gambling Ministers, as we sought to articulate the case for legislative change that supports Rank’s strategy.
  • Members of BGC, Bingo Association and JDigital.
  • Responded to the Commission’s proposed changes to the Annual Assurance Statement.
  • Responded to the Commission’s consultation on the proposed changes to the Licence conditions and codes of practices.

 

Shareholders and investors 

We adopt an open and transparent approach with our shareholders and analysts to communicate our performance and use their feedback to inform our strategy and decision-making.

Key areas of consideration

  • Strategy, performance and outlook
  • Leadership capability
  • Executive remuneration
  • Corporate governance
  • Environmental, social and governance (ESG) performance

How we engage

We adopt a proactive approach to investor relations, conducting a comprehensive programme of regular contact and consultation throughout the year. Our investor relations programme includes regular updates, meetings, roadshows and our Annual General Meeting. The other key way in which we communicate with all shareholders is via our corporate website, www.rank.com.

2022/23 highlights

  • 23 meetings held with shareholders during the year, in addition to quarterly meetings held with the majority shareholder.
  • Chief Executive, Chief Financial Officer and Director of ESG & Investor Relations took part in a scheduled programme of major shareholder engagement to discuss interim and final year preliminary results and analysts following announcement of final preliminary results.
  • Chief Executive and Chief Financial Officer scheduled engagements with major shareholders and analysts in December 2022.
  • Chief Executive hosted a ‘fireside’ lunch with our major investors and analysts to discuss the implications of the White Paper for Rank and the next phase into the consultation process.
  • Our Remuneration Committee chair, on her appointment as the chair to the committee in January wrote and introduce herself to our major shareholders and the proxy advisers. This also provided an opportunity for our major shareholders and proxy advisors to raise any remuneration matters, particularly in light of the Remuneration Policy to be reviewed in 2024.
  • Received votes from 92.55% of shareholders for the 2022 Annual
  • General Meeting (‘AGM’).
  • Ensured our shareholders had an opportunity to raise their questions ahead of the 2022 AGM, and which were responded to and published on our corporate website www.rank.com.

 

Suppliers

We have relationships with circa 1,500 suppliers, ranging from small businesses to large multinational companies. We aim to operate to the highest professional standards, treating our suppliers as key business partners and operating in a fair and reasonable manner, encouraging supply chain transparency and promoting fair working conditions.

Key areas of consideration

  • Robustness of our business
  • Long-term partnerships
  • Fair engagement and payment terms
  • Collaborative approach

How we engage

We have a dedicated procurement function which engages with our suppliers with the aim of optimising the way that we work with them. We build relationships regionally and locally to better understand the markets from where we source products and services. These relationships ensure Rank maintains and creates a strong relationship that is able to support Rank’s long-term success.

2022/23 highlights

  • Continued to evolve our management of contract life cycles, benefiting our suppliers and internal efficiencies.
  • Implemented a refreshed supplier relationship management framework to support improved ways of working whilst driving value creation for both Rank and its partners.
  • Continued to work with our suppliers following the transition to our proprietary platform in June of last year.
  • Provided training to suppliers and contractors as appropriate when visiting our venues.
  • Continued to build strong working relationships between Rank’s regular suppliers and operators throughout the year.
  • Considered supplier relationships as we commenced a review to qualify standards and expectations around our supplier conduct.
  • Continued to work with our landlords on all leasing matters through the year, particularly as we sought to improve terms and a mutual benefit to our landlords through enhanced asset investment value and in turn, providing the business with greater certainty of venue occupancy.
  • The Group’s 2022 Modern Slavery Statement was reviewed and approved by the Board.