Rank Group fights back on UK gambling tax speculation

Rank Group fights back on UK gambling tax speculation

Summary

Rank Group CEO John O’Reilly has pushed back against growing speculation that the UK will raise gambling taxes in next month’s Budget, saying the group is paying its “fair share” and is already engaging with the Treasury on potential impacts. Rank reports it paid £188m in taxes last year and made a profit after tax of £44.6m.

The comments accompany a strong Q1 trading update for 2025/26 (1 July–30 September): group like-for-like net gaming revenue rose 9% year‑on‑year to £210.2m; digital NGR increased 13% to £61.6m and venues NGR rose 7% to £148.6m. UK digital grew 15% (Grosvenor +31%, Mecca +9%). Spain slipped 1% due to platform capacity issues that Rank says are being fixed.

Land-based performance improved: Grosvenor NGR +8% to £102.7m, Mecca venues NGR +5% to £35.5m. Gaming-machine revenue rose 12% after adding 471 B1 machines; Rank expects 850 incremental machines to be in place before end of H1 2025/26. The group will host a Grosvenor-focused Capital Markets Event on 22 October and announces interim results for the six months to 31 December 2025 on 29 January 2026.

Key Points

• CEO John O’Reilly says Rank is paying a fair share and is in talks with the Treasury about tax-change implications.
• Market widely expects a gambling tax increase in the UK when Chancellor Rachel Reeves delivers the November Budget.
• Rank paid £188m to HMRC and local authorities last year and reported £44.6m profit after tax.
• Q1 2025/26 like-for-like NGR rose 9% to £210.2m; digital NGR +13% to £61.6m; venues NGR +7% to £148.6m.
• UK digital growth led by Grosvenor (+31%) and Mecca (+9%); Spain down 1% owing to platform issues being addressed.
• Gaming machine revenue up 12% after installing additional B1 machines; 471 currently installed with 850 planned by end H1.
• Operators such as Entain and evoke have warned they may reassess UK investment if taxes rise significantly.

Why should I read this?

Short version: if you work in UK iGaming or run venues, this matters — taxes could hit margins, staffing and investment decisions. Rank’s results show momentum, but the looming Budget could change the economics quickly. We skimmed the detail so you don’t have to — here’s the bit you need to know.

Source

Source: https://igamingexpert.com/regions/europe/rank-group-uk-tax-hike-financials/