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Rank Group reports 5% revenue growth but warns higher gaming taxes risk jobs and venue closures

Market News
15 Oct 2026
Proactive Investors
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Bearish
Rank Group reports 5% revenue growth but warns higher gaming taxes risk jobs and venue closures

Rank Group PLC reported a 5% increase in like-for-like net gaming revenue to £216.1 million for Q1 2026/27, driven by growth in both digital (6%) and venue (5%) channels. Despite this growth, CEO Richard Harris warned that proposed increases in Machine Games Duty could raise costs, lead to venue closures, job losses, and reduced investment. The company closed three Grosvenor venues due to economic viability concerns, while other venues showed mixed performance with some revenue growth offset by attendance declines. The group expects to meet profit expectations under the current tax regime but highlights risks if taxes rise.

The Rank Group's Q1 2026/27 like-for-like net gaming revenue rose 5% to £216.1 million, with digital and venue channels both contributing growth. For readers following the Consumer Cyclical sector, here is Pluang's market snapshot as of Oct 15, 2026 15:01 WIB: out of 134 priced US stocks, 60 advanced and 57 declined. Notable moves include Gogoro Inc at USD 2.99 (-3.55%), Carparts.Com Inc at USD 7.75 (+2.79%) with 100% buy order activity, and GameStop Corp. at USD 26.52 (-2.32%) with 71% sell order activity.

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