Rank Group Plc has announced its financial performance for the fiscal year ending June 30, 2026, describing it as ‘stronger-than-anticipated,’ despite a regulatory settlement with the UK Gambling Commission being part of the reporting period.
On Tuesday, this gambling operator, known for managing Grosvenor Casinos, Mecca Bingo, Spain’s Enracha Casinos, and a UK-focused digital gaming division, projected an underlying operating profit of at least £76 million. This figure surpasses previous market expectations of £63.7 million outlined in their Q3 statements.
When examining the company’s divisions, Rank Group highlighted a 6% increase in like-for-like net gaming revenue (NGR), totaling approximately £834.1 million for the 12 months. This upward trend continued into the fourth quarter, recording a like-for-like NGR of £208.9 million—a figure also reflecting a 6% rise from the prior year.
Growth across all business segments contributed to the full-year performance. Grosvenor Casinos achieved a net gaming revenue of £397.3 million, up 5%, while Q4 NGR increased by 3%, reaching £98.3 million. The digital division exhibited the most substantial annual growth, with FY NGR climbing 8% to £248.5 million. In the fourth quarter, digital NGR surged 12% to hit £63.9 million.
Mecca Bingo reported full-year NGR of £143.0 million, a 4% increase, and the fourth-quarter NGR also rose by 4% to £35.4 million. Meanwhile, Enracha Casinos in Spain recorded a full-year NGR of £45.3 million—a 7% increase—while the fourth quarter saw NGR up 6% to £11.3 million. It is noteworthy that this Spanish branch was affected by a €7.1 million ($8.2 million) payment fraud incident in December of the prior year. According to Rank, the matter was reported to law enforcement agencies, and an internal investigation is being conducted with the assistance of an external law firm.
The performance of Mecca Bingo and Enracha Casinos was described as “in line with expectations.” Rank also mentioned effective control over operating expenses across all business units throughout the year.
In terms of regulatory matters, Rank announced its plans to include a £5 million provision in its 2025/26 accounts; this relates to a proposed settlement with the UK Gambling Commission. This action comes after preliminary findings from an ongoing review of Grosvenor Casinos Limited’s operating licence concerning compliance issues from November 1, 2024, to May 1, 2025.
On May 20, the company submitted a settlement proposal, which included the £5 million payment in lieu of a financial penalty. This amount was determined based on gross gambling yield and recent guidance from the Gambling Commission, effective from October 2025. Rank is awaiting a finalisation letter from the regulator, stating that remedial actions have been “substantially implemented” in the first half and highlighting the company’s constructive engagement with the regulator.
Rank Group pointed to substantial growth in gaming machine revenues at Grosvenor venues, with a notable 12% increase in the fourth quarter, improving from 10% growth in Q3. This rise follows optimisation efforts and a significant expansion of the gaming estate by approximately 850 gaming terminals within the first half of the year. A government legislation enacted in July last year permitted casinos to increase the number of gaming machines on-site, leading to a 60% increase in the number of machines. The group identified growth in gaming machines as a “significant opportunity” that supports its broader expansion strategy.
“Gaming machine revenue growth remains a significant opportunity for the group,” stated Richard Harris, Rank’s chief executive. Recently appointed as permanent CEO after serving as interim and CFO since 2022, Harris noted that gaming machines were the fastest-growing vertical for the operator in Q3, with NGR climbing 10%.
The digital division, which ranks as Rank’s second-largest revenue source after Grosvenor, saw a 12% rise in like-for-like NGR in the fourth quarter. This acceleration comes despite the UK government’s implementation of an increased Remote Gaming Duty from 21% to 40% on April 1, 2026, following the previous autumn budget. To counteract margin pressures, Rank maintained its spend on performance marketing and customer incentives while reducing above-the-line marketing expenses, supplier costs, and staff numbers. These cost-control measures have contributed to sustaining revenue and profit amid challenging conditions.
“Our expected profit outturn for the year reflects the progress we’ve made in executing our growth plan, despite facing significant cost and tax pressures,” indicated Richard Harris. Rank has reaffirmed its medium-term target to reach at least £100 million in operating profit. The company is set to release its preliminary results for the 2025/26 financial year later this summer.
