Rank Group has guided full-year underlying operating profit to at least £76 million for the year ending 30 June 2026, surpassing prior market expectations of £63.7 million, even as the company booked a £5 million provision tied to a proposed regulatory settlement with the UK Gambling Commission over Grosvenor Casinos’ operating licence.
Group like-for-like net gaming revenue reached approximately £834.1 million for the full year, a 6% year-on-year increase, with the same growth rate sustained into the fourth quarter at £208.9 million. Rank attributed the performance to growth across all four business divisions and tight control over operating expenses throughout the period.
Division by Division
Grosvenor Casinos generated full-year NGR of £397.3 million, up 5%, with Q4 NGR rising 3% to £98.3 million. The digital division recorded the sharpest annual increase, with FY NGR up 8% to £248.5 million and Q4 NGR climbing 12% to £63.9 million – an acceleration that came despite the Remote Gaming Duty increase from 21% to 40%, effective 1 April 2026. Rank offset the duty headwind by preserving performance marketing and customer incentive spend while cutting above-the-line activity, supplier costs, and headcount.
Mecca Bingo venues reported full-year NGR of £143.0 million, up 4%, and Q4 NGR of £35.4 million, also up 4%. Enracha Casinos in Spain posted FY NGR of £45.3 million, a 7% rise, with Q4 NGR of £11.3 million, up 6% – a result that follows the €7.1 million payment fraud reported to Spanish authorities in December 2024.
Gaming machine revenues at Grosvenor venues rose 12% in Q4, ahead of the 10% growth recorded in Q3. The uplift followed the addition of approximately 850 gaming terminals in the first half of the year, a roughly 60% expansion of the estate enabled by UK government legislation that took effect in July 2024. Chief executive Richard Harris described gaming machine revenue growth as “a significant opportunity for the group.”
Regulatory Settlement
On 20 May, Rank submitted a settlement proposal to the UKGC that includes a £5 million payment in lieu of a financial penalty, calculated with reference to gross gambling yield and Commission guidance effective from October 2025. The settlement addresses compliance issues identified during a review of Grosvenor Casinos Limited’s operating licence covering the period 1 November 2024 to 1 May 2025. Rank said remedial actions had been “substantially implemented” during the first half and that it is awaiting a formal finalisation letter from the regulator.
The proposed figure places Rank among the larger individual settlements in the current UKGC enforcement cycle. For comparison, recent Commission settlements have clustered around similar penalty levels, reflecting the regulator’s stated preference for faster, cooperative resolutions. Betfred’s settlement over monitoring failures in the same period underscores how broadly the Commission has applied its enforcement focus across the UK land-based and online sectors.
Harris said the profit outturn “reflects the progress we have made in executing our plan for growth, despite the significant cost and taxation headwinds that we have incurred during the year.” Rank reaffirmed its medium-term target of at least £100 million in annual operating profit. Full preliminary results for the 2025/26 financial year are scheduled for publication later this summer.
Renata Kovacs has spent the better part of a decade following the regulatory shifts and licensing battles that define how gambling markets open, close, and evolve across Europe and beyond. She came up through the legal and compliance side of the industry before shifting her focus to journalism and analysis, giving her a perspective that sits closer to the operator room than the press box. Her coverage tends to cut through the noise and get straight to what a regulatory change actually means for the businesses and players involved.