Grosvenor Casinos owner warns of £9m tax hit after Healey’s gambling duty hike
Casino operator Rank Group has warned that John Healey’s gambling tax hike will deliver a hit of around £9m a year, as the industry begins to count the cost of Wednesday’s Budget. The London-listed owner of Grosvenor Casinos and Mecca Bingo said the increase in Machine Games Duty (MGD) from 20 to 25 per cent, [...]
Grosvenor Casinos' owner, Rank Group, has cautioned that the gambling tax hike proposed by John Healey will result in a significant financial impact of approximately £9 million annually. This increase in Machine Games Duty (MGD), which rises from 20% to 25% from April 2027, will add nearly £9 million to the company's annual tax bill before any potential offsetting measures.
Rank anticipates additional costs of £2 million during its current financial year, which concludes in June 2027. Despite these challenges, Rank remains optimistic about maintaining its like-for-like operating profit as expected. The company plans to disclose further details of the Budget's impact and its strategies to offset the costs in its upcoming half-year results scheduled for January 28th.
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