Rank Group Plc has revealed a stronger-than-expected financial performance for the fiscal year ending June 30, 2026, even amid an agreement with the UK Gambling Commission regarding regulatory matters.
On Tuesday, the gaming operator, which oversees Grosvenor Casinos, Mecca Bingo, Spain’s Enracha Casinos, and a digital gaming operation in the UK, projected an underlying operating profit of at least £76 million for the year. This estimate surpasses earlier market forecasts of £63.7 million identified in their Q3 report.
In a division-by-division overview, Rank noted a year-on-year increase of 6% in like-for-like net gaming revenue (NGR), totaling approximately £834.1 million for the year. This positive trajectory continued into the fourth quarter, which also saw a 6% rise in like-for-like NGR, amounting to £208.9 million over the same period last year.
Grosvenor Casinos contributed to this growth, achieving net gaming revenue of £397.3 million for the year, reflecting a 5% rise, while the fourth quarter noted a 3% increase to £98.3 million.
The digital sector demonstrated the most robust growth, with full-year NGR climbing 8% to £248.5 million, and a significant 12% rise in Q4 NGR to £63.9 million. Mecca Bingo's venues reported annual NGR of £143.0 million, a 4% increase, with a similar 4% rise in Q4 NGR, reaching £35.4 million.
In Spain, Enracha Casinos recorded full-year NGR of £45.3 million, up 7% year-on-year, and a Q4 NGR increase of 6% to £11.3 million. However, it faced a setback due to a €7.1 million ($8.2 million) payment fraud incident in December 2025.
Rank has overtly reported this issue to relevant law enforcement agencies and is co-operating with their investigations, while also conducting an internal inquiry with assistance from an external law firm.
The performance of Mecca Bingo and Enracha Casinos aligned with expectations, underscoring Rank's stringent operational expense controls across all divisions during the year.
Separately, Rank revealed plans to allocate a £5 million provision in its 2025/26 accounts for a proposed settlement with the UK Gambling Commission. This follows preliminary findings from an ongoing review of Grosvenor Casinos’ operating license that addressed compliance issues from November 1, 2024, to May 1, 2025.
On May 20, Rank submitted a settlement proposal which included the £5 million payment in lieu of a financial penalty, structured according to gross gambling yield and recent guidance from the Gambling Commission, effective from October 2025. The company is currently awaiting a formal finalization letter from the regulator and has stated that it has taken substantial remedial actions during the first half of the year while actively engaging with the regulator.
Rank Group acknowledged a considerable improvement in gaming machine revenues at Grosvenor locations, reporting a 12% increase in Q4, an uptick from 10% growth in Q3. This boost follows a legislative change by the UK government in July 2025, allowing casinos to increase their number of gaming machines, effectively raising the estate by approximately 850 terminals — a 60% increase.
Richard Harris, Rank’s chief executive, emphasized gaming machine revenue growth as a significant opportunity that supports its broader expansion strategy. He highlighted that the growth of gaming machines was the fastest-growing segment, with NGR up 10% in Q3.
The digital division, which ranks as Rank’s second-largest revenue contributor after Grosvenor, saw a 12% increase in like-for-like NGR during Q4, despite the UK government raising the Remote Gaming Duty from 21% to 40% on April 1, 2026, as per the 2025 autumn budget.
To manage margin pressures, Rank maintained its spending on performance marketing and customer incentives while reducing costs on overhead marketing, supplier expenses, and workforce size — strategies that helped bolster both revenue and profitability throughout the fiscal period.
“Our expected profit outturn for the year reflects the progress we have made in executing our plan for growth, despite significant cost and taxation headwinds during the year,” commented Harris. Rank reiterated its medium-term target of achieving at least £100 million in operating profit and is set to release its preliminary results for the 2025/26 financial year in the summer.
