Rank Group CEO Criticises Anti-Gambling Campaigners for Undermining UK Casino Viability
TL;DR — Rank Group CEO Richard Harris criticised anti-gambling campaigners for casting clouds over the UK sector via tax proposals. The operator grew NGR 5% to £835m but saw profit after tax fall 23%. Harris warned increases could force closures and cut tax receipts.
SCCG Take — Higher taxes on supervised land-based operations risk accelerating venue closures and lowering net fiscal yield, shifting activity toward less regulated channels.
Rank Group reported 5% NGR growth to £835 million ($1.13 billion) for the full year between June 2025 and June 2026. Richard Harris, the group’s CEO, used the results to criticise anti-gambling campaigners whose tax proposals he said continue to cast clouds over the regulated UK casino sector.
Harris argued that higher taxes could prove counterproductive. Such moves risk undermining the viability of land-based businesses that operate with high supervision and tight margins, according to reporting by iGaming Business. The comments reference a Social Market Foundation call for increased duty on higher-risk Category B machines, increased remote gaming duty from 21% to 40%, and new Prime Minister Andy Burnham’s push to give councils more powers over adult gaming centres.
Financial and Operational Results
Underlying EBITDA increased 15% to £138.3 million. Underlying operating profit rose 21% to £78.6 million. Reported operating profit fell 7% to £55.7 million, while profit after tax dropped 23% to £29.9 million.
Digital delivered the strongest performance, with like-for-like NGR up 8% to £248.5 million. Grosvenor casinos posted 5% growth in average weekly NGR to £7.6 million. The group reduced net debt to £147.2 million and reported early momentum in the new financial year, with group NGR 8% higher in the first six weeks.
Rank reiterated its target of over £100 million in underlying operating profit in the medium term. It cautioned that digital margins will decline in FY2026/27 from the duty increase.
Risks to Land-Based Viability
Harris warned that tax increases for clubs like Rank would swiftly lead to lower tax receipts as bingo halls and casinos face closure. The group paid over £225 million in taxes and duties last year and supports jobs plus hospitality for millions of customers. Maintaining the current 20% machine games duty rate is critical, the company stated, as any rise would impact venue viability across Grosvenor and Mecca within 12 months and reduce fiscal contributions.
This highlights a core limitation in the current policy debate. Proposals aimed at higher-risk machines overlook the supervised nature of these venues and the potential for reduced overall tax take if operators are forced to retrench. Operators must now model closure scenarios and efficiency gains against any further duty changes that emerge from the new government.
Reporting: iGaming Business (iGB)
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Higher taxes on tightly regulated land-based venues risk closures, lower net receipts, and migration to less-supervised channels.
We've worked across every regulated market and seen this pattern: punitive taxes on supervised, high-overhead venues don't reduce harm—they just shift activity offshore or underground. Rank paid £225 million in taxes last year. Kill the goose, lose the golden eggs and the oversight.
- Rank grew NGR 5% to £835m but profit after tax fell 23%
- CEO warns tax hikes on Category B machines and remote duty could force venue closures
- Digital up 8%; group cautioned FY26/27 margins will compress from remote duty increase
SCCG angle: SCCG connects operators facing regulatory headwinds with policy advisors, tax strategy experts, and diversification partners across 545 relationships in every regulated market. When the home market tightens, we help clients find new revenue streams and protect margin through smarter structure and geographic expansion.
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