The Mecca Bingo operator said its net gaming revenues fell 48 per cent to £329.6m in the year to June 30.
However, the firm hailed “encouraging progress” since it was able to reopen its sites in May.
John O’Reilly, chief executive of Rank Group, said: “The year to June 30 was exceptionally challenging for the group and, frankly, we are delighted it is over.
“We are now well into a new financial year with our venues open and trading positively.
“Good progress is being made in our digital businesses and there is a renewed sense of confidence as we focus on the growth initiatives within our clearly defined transformation programme.
“Our venues have been performing ahead of our expectations following the easing of restrictions on the UK hospitality sector on May 17 and we anticipate further growth as travel restrictions eventually ease and tourism returns, particularly to London.”