Investment case

Compelling investment case…

Biggest brands in land-based casino and bingo markets
Significant cross-channel customer economics
High barriers to entry

Investment in best-in-class products in venues
Renewal of the digital business on proprietary digital platform
Investment opportunities and land-based legislative reforms

Record employee engagement levels
Very strong customer Net Promoter Scores
Investment in further enhancing the culture in our businesses

Clear pathway to £8m+ NGR per week in Grosvenor before legislative reforms
Expected 8-12% CAGR in digital
62% growth in machines this year, +110% by end of 2027

Capital allocation policy with clear investment hurdles
Strong Group-wide focus on ROCE
Progressive dividend policy

…delivering strong financial outcomes

Strong financial outcomes

Double digit revenue growth with growth in all businesses and strong profit conversion
On track to deliver £100m+ operating profit in the medium term
Cash generation ahead of expectations and will continue to improve as operating profit grows and capital investment normalises
Strong payback on investment and improving return on capital employed
Strong balance sheet with a net cash position
Increasing returns to shareholders
Significant further opportunities for the Group