Rank Group Warns Of More Casino, Bingo Closures
Rank Group, the owner of Grosvenor Casinos and Mecca Bingo, has warned that any increase to Machine Games Duty (MGD) would force more of its venues to close, in preliminary results published on August 13, 2026.
The warning coincides with a consultation on the permanent closure of Grosvenor Casino Reading Central, one of two Grosvenor sites in the town, after six straight years of losses.
Richard Harris, chief executive of Rank, said in the results statement: "Tax proposals from anti-gambling campaigners continue to cast clouds over a regulated industry that is proud to support jobs across the country, deliver great hospitality experiences to millions of customers and Rank paid over £225m in taxes and duties last year.
Tax increases for clubs like ours, with high levels of supervision and operating on tight margins, will swiftly lead to lower tax receipts as much-loved bingo halls and casinos will be forced to close, impacting customers in local communities."
The Tax Proposal Behind The Warning
MGD is currently set at 20% of gross gaming yield on machines in casinos and bingo halls. Rank said in its results that "any increase to the rate will further impact venue viability across both Grosvenor and Mecca and will lead to a reduction in tax receipts within 12 months."
The warning follows a report published in June 2026 by the Social Market Foundation, a cross-party think tank, which called for MGD on Category B machines to double to 40%.
The SMF estimated the change could raise between £275m and £458m in additional annual revenue, on top of the roughly £600m Category B machines already generate in duty.
Casino Games Hub
Rank's Full-Year Results
For the 12 months to June 30, 2026, Rank reported like-for-like net gaming revenue up 6% to £834.1m and underlying operating profit up 21% to £78.6m.
Statutory operating profit fell 7% to £55.7m and profit before tax dropped 15% to £39.2m, after £22.9m of separately disclosed items including a £5m provision for a proposed Gambling Commission settlement and costs tied to the closure of nine Mecca venues during the year.
The group said it paid more than £225m in taxes and duties in the period. Digital revenue including online casinos, which is taxed separately under Remote Gaming Duty, grew 8% despite that rate rising from 21% to 40% in April 2026.
A Reading Casino Faces Closure
The pressure on individual venues is already visible on the high street. Grosvenor Casino Reading Central generated an operating loss of £500,000 in the last financial year, with a further £400,000 loss forecast for the year ahead if it continues to trade, according to a letter sent to staff on July 20, 2026 and seen by the Reading Chronicle.
The letter said revenue at the Queen Street site was £630,000 below budget, a shortfall of 19%, and that the venue has made a combined loss of £2.3m over six years while operating costs rose 2% and revenue fell 20% over the same period.
A Grosvenor Casinos spokeswoman told the Reading Chronicle: "We can confirm that we have taken the difficult decision to begin a consultation process to explore options for the long-term sustainability of Grosvenor Casino Reading Central.
As part of good business practice, we regularly review the performance and long-term health of our venues to ensure we are making responsible decisions for our colleagues, customers and the wider business."
The consultation could affect dozens of jobs, and the company said no final decision on redundancies has been made.
