Rank Group experienced a significant boost in its financial performance during FY2025/26, recording advancements in both revenue and profit. The company attributed this success to its prominent brands, including Grosvenor, Mecca, and Enracha.
The firm reported an underlying net gaming revenue (NGR) of €967.6 million (£834.1 million), marking a 6% increase year-on-year. Additionally, underlying operating profit grew by 21% to €91.2 million (£78.6 million), while underlying EBITDA rose by 15% to reach €160.4 million (£138.3 million).
These results represent the first complete annual update under Richard Harris, who was appointed Chief Executive on a permanent basis last month after serving as interim CEO earlier in the year.
Across its brands, Grosvenor Casinos held its position as Rank's largest segment, with like-for-like NGR climbing 5% to €460.9 million (£397.3 million). Within London, venues contributed €143.4 million (£123.6 million), while the regional estate added €317.4 million (£273.7 million). The underlying operating profit for Grosvenor advanced by 11% to €41.2 million (£35.5 million), bolstered by the ongoing introduction of sports betting options, featuring new sportsbook areas in Leicester and Reading South.
Mecca Bingo saw a remarkable upswing in profitability, with like-for-like revenue modestly increasing by 4% to €165.9 million (£143 million). However, the underlying operating profit surged more than double to €10.3 million (£8.9 million), aided by the cancellation of the UK bingo duty in the final quarter of the financial year. Although Rank plans to close nine underperforming locations, the company anticipates Mecca to continue generating profits in FY2026/27, projecting earnings around €7.4 million (£6.4 million).
In Spain, Enracha maintained its positive trend, reporting a 7% growth in revenue to €52.5 million (£45.3 million) and achieving a record underlying operating profit of €13.9 million (£12 million).
However, despite the solid underlying results, Rank's statutory operating profit fell by 7% to €64.6 million (£55.7 million) due to several exceptional items impacting reported earnings. This includes about €7.5 million (£6.5 million) linked to a payment fraud incident in Spain, €5.8 million (£5 million) concerning a UK Gambling Commission charge, and costs associated with restructuring and venue closures.
Looking forward, Rank reported an encouraging start to the new financial year, with like-for-like NGR for the early period running 8% ahead of the previous year.
In June 2026, Rank undertook a substantial refinancing to bolster its financial standing, replacing a previous €139.2 million (£120 million) financing arrangement with a new four-year revolving credit facility set on improved commercial terms. As of year-end, the company's net debt totaled €170.8 million (£147.2 million), with approximately €34.8 million (£30 million) drawn from the new facility and an available €104.4 million (£90 million).
Management stated that forthcoming investments will target enhancing the productivity of its estate and advancing technological use to improve operational efficiency and customer experience.
Despite these positive developments, Harris highlighted that the landscape for land-based gambling is facing increasing scrutiny from regulators and tax authorities. He warned that elevated UK gambling taxes could further pressure bingo clubs and casinos that operate on tight margins, emphasizing the need for continued operational efficiency alongside selective investment in growth.
Still, Harris confident in the firm's ability to enhance profitability and deliver long-term value to shareholders. Following the financial update, Rank's shares rose 2.9%.
