Rank Group Plc has experienced a robust financial year ending 30 June 2026, reporting results that surpassed expectations, despite facing a regulatory settlement with the UK Gambling Commission.
Announced on Tuesday, the gambling operator, which oversees Grosvenor Casinos, Mecca Bingo, Spain’s Enracha Casinos, and a UK-focused digital gaming enterprise, anticipates an underlying operating profit of at least £76 million. This figure notably outstrips the previous market forecast of £63.7 million based on their third-quarter results.
Breaking down performance by division, Rank Group noted a 6% year-on-year increase in like-for-like net gaming revenue (NGR), reaching approximately £834.1 million over the 12-month period. This positive trend continued into the fourth quarter, where the company recorded a like-for-like NGR of £208.9 million, also reflecting a 6% increase compared to the previous year.
Grosvenor Casinos led the charge, generating NGR of £397.3 million for the year, a growth of 5%, with a 3% rise to £98.3 million during the fourth quarter. The digital segment garnered the highest annual growth, with its full-year NGR climbing 8% to £248.5 million and a 12% increase to £63.9 million in Q4.
Mecca Bingo venues reported a full-year NGR of £143.0 million, which also marked a 4% increase, with Q4 NGR displaying a similar rise of 4% to £35.4 million. Enracha Casinos in Spain achieved a full-year NGR of £45.3 million, reflecting a 7% year-on-year growth, with Q4 NGR rising 6% to £11.3 million. In December of the previous year, the Spanish sector was affected by a €7.1 million ($8.2 million) payment fraud, which Rank has since reported to law enforcement and is under internal investigation with external legal support.
Rank deemed the performances at Mecca Bingo and Enracha Casinos as meeting expectations, and reported effective management of operational costs across all units during the year.
On regulatory matters, Rank announced plans to account for a £5 million provision regarding a proposed settlement with the UK Gambling Commission. This relates to findings from an ongoing review of Grosvenor Casinos Limited’s operating license, addressing compliance issues from 1 November 2024 to 1 May 2025.
In a submission made on 20 May, Rank proposed a settlement payment of £5 million, which was calculated based on gross gambling yield and aligned with Gambling Commission guidance effective from October 2025. The company is awaiting a formal finalization letter from the regulator, and indicated that they have implemented significant remedial actions while maintaining constructive dialogue with the regulatory body.
Rank Group also reported a notable rise in gaming machine revenues at Grosvenor venues, showing a 12% increase in the fourth quarter compared to a 10% increase in Q3. This growth followed strategic optimizations along with the introduction of 850 new gaming terminals earlier in the year, thanks to UK legislation enacted in July 2025 that allowed casinos to expand their gaming machine offerings. This expansion represented a 60% increase in machine numbers and is seen as a major opportunity in Rank’s overall growth strategy.
Chief Executive Richard Harris, who has transitioned from CFO to his current role, emphasized that gaming machine revenue growth is a vital opportunity for the group. In Q3, gaming machines marked the operator’s fastest-growing vertical, with NGR rising 10%.
The digital division, which is Rank’s second-largest revenue source following Grosvenor, also reported a 12% increase in like-for-like NGR in the fourth quarter. This comes despite the UK government's increase of Remote Gaming Duty (RGD) from 21% to 40% as of 1 April 2026 following the previous autumn budget. To counteract margin pressures, Rank reduced expenditure on above-the-line marketing, supplier costs, and staffing, while maintaining investment in performance marketing and customer incentives. These measures have been credited with sustaining revenue and profit stability throughout the year.
Harris remarked that the anticipated profit results reflect the company's progress in executing its growth strategy, despite the significant cost and tax challenges encountered during the year. He reaffirmed the medium-term target to achieve at least £100 million in operating profit and confirmed that Rank plans to release its preliminary results for the 2025/26 financial year later this summer.
