Rank Group has reported positive financial results for the fiscal year 2025/26, showing growth in both revenue and profits thanks to contributions from its brands, including Grosvenor, Mecca, and Enracha. The company announced an underlying net gaming revenue (NGR) of €967.6 million (£834.1 million), marking a 6% increase compared to the previous year. Concurrently, underlying operating profit jumped 21% to €91.2 million (£78.6 million), while underlying EBITDA rose by 15% to €160.4 million (£138.3 million). This financial update is the first complete year’s performance report since Richard Harris was appointed Chief Executive Officer permanently last month, after serving as interim CEO earlier in the year.
All three brands of Rank Group saw growth, with Grosvenor Casinos continuing as the largest division. Its like-for-like NGR grew by 5%, reaching €460.9 million (£397.3 million). The London casinos generated €143.4 million (£123.6 million), while contributions from the regional estate amounted to €317.4 million (£273.7 million). Underlying operating profit for Grosvenor increased to €41.2 million (£35.5 million), benefiting from the ongoing expansion of sports betting options, including new sportsbook areas in Leicester and Reading South.
In terms of performance at Mecca Bingo, it experienced one of the highest profit increases of the year. Although like-for-like revenue saw a modest 4% rise to €165.9 million (£143 million), the underlying operating profit more than doubled to €10.3 million (£8.9 million), largely attributed to the elimination of the UK bingo duty in the last quarter of the financial year. While Rank Group plans to close nine underperforming venues, the company anticipates that Mecca will remain profitable in FY2026/27, projecting earnings of around €7.4 million (£6.4 million).
Meanwhile, Enracha in Spain maintained its strong performance, reporting a 7% increase in revenue to €52.5 million (£45.3 million), achieving a record underlying operating profit of €13.9 million (£12 million).
However, Rank's statutory operating profit experienced a 7% decline to €64.6 million (£55.7 million), influenced by various exceptional items that impacted overall earnings. These exceptional items included about €7.5 million (£6.5 million) due to a fraudulent payment issue in Spain, €5.8 million (£5 million) tied to a charge from the UK Gambling Commission, alongside additional restructuring costs and venue closures.
Despite these challenges, trading trends have shown an upward trajectory entering the new financial year, with like-for-like NGR already 8% higher compared to the same period last year.
In June 2026, Rank underwent significant refinancing to enhance its financial stability, replacing a previous financing arrangement of €139.2 million (£120 million) with a more favorable four-year revolving credit facility. At the end of the financial year, net debt stood at €170.8 million (£147.2 million), with approximately €34.8 million (£30 million) drawn from the new credit line and €104.4 million (£90 million) still available.
As for the future, management indicated a focus on boosting productivity across its operations and investing in technology to improve efficiency and customer experiences. However, CEO Richard Harris expressed concerns about increasing regulatory and tax pressures affecting land-based gambling, which could impact bingo halls and casinos already operating on thin margins. Harris emphasized the need for maintaining operational efficiency while making strategic new investments, yet remains optimistic about the company’s ability to enhance profitability and shareholder value. Following the announcement of these results, Rank’s shares rose by 2.9%.
