Rank Group sees strong full-year growth
Grosvenor Casino’s net gaming revenue climbed 5 per cent year-on-year.
UK.- Rank Group has reported strong financial results for FY2025/26, with growth across its core divisions. The London-listed operator of Grosvenor Casinos, Mecca and Spain-facing Enracha venues recorded a 6 per cent rise in group underlying like-for-like net gaming revenue, climbing from £788.4m to £834.1m. Underlying EBITDA advanced 15 per cent to £138.3m, while operating profit jumped 21 per cent from £64.8m to £78.6m.
Statutory operating profit fell 7 per cent to £55.7m, impacted by exceptional costs including a £6.5m fraud loss in Spain, a £5m Gambling Commission charge in the UK, and restructuring expenses. Nevertheless, Rank said the new financial year has begun positively, with net gaming revenue up 8 per cent.
Grosvenor remained the group’s largest contributor, with like-for-like net gaming revenue up 5 per cent to £397.3m, including £123.6m from London and £273.7m from the rest of the UK. Operating profit rose 11 per cent to £35.5m. The operator noted that sports betting is now available across all Grosvenor casinos, with new lounges and viewing facilities introduced to drive engagement.
Mecca bingo venues saw modest revenue growth of 4 per cent to £143m but a sharp profit increase of 107 per cent to £8.9m, aided by the abolition of UK bingo duty in Q4. Nine underperforming venues were closed, yet Rank expects Mecca to deliver £6.4m profit in FY2026/27. In Spain, Enracha saw a 7 per cent rise in net gaming revenue to £45.3m and record profit of £12m, supported by strong bingo and machine play.
Rank Group’s outlook
Rank reiterated its medium-term ambition of delivering at least £100m in underlying profit, though it cautioned that digital profitability would decline despite “decisive mitigating actions” to head off the impact of the rise in Remote Gaming Duty introduced in April.
The figures mark a confident start for Richard Harris, who last month was confirmed as Chief Executive Officer after serving on an interim basis since February. Harris acknowledged the strength of the results but voiced concern over the UK regulatory climate, referring to recent proposals to raise Machine Games Duty.
“Tax proposals from anti-gambling campaigners continue to cast clouds over a regulated industry that is proud to support jobs across the country, deliver great hospitality experiences to millions of customers. Rank paid over £225m in taxes and duties last year,” he said. He warned that further increases “will swiftly lead to lower tax receipts as much-loved bingo halls and casinos will be forced to close, impacting customers in local communities. The government has supported bingo clubs like ours in recent years and any tax increase would have a material impact on commercial viability.”
