Rank Group’s Spanish operations – Enracha and Yo – have been impacted by payment fraud, which totalled to costs of approximately €7.1m.
Shareholders of the group were notified by the operator earlier this week of the financial case, which is currently being investigated by the relevant authorities alongside an internal investigation.
The operator also clarified that the incident would be a separately disclosed item within its financial report next year.
“The Rank Group Plc reports that its Spanish businesses, Enracha and Yo, have been the victim of a payment fraud, which in aggregate has totalled approximately €7.1m,” the group said in a statement.
“The Group has reported the matter to the relevant law enforcement agencies and is supporting their investigations, as well as carrying out its own internal investigation with the help of an external law firm.
“Given the exceptional nature of this incident, Rank Group expects to treat the financial impact as a Separately Disclosed Item in relation to its 2025/26 performance.”
Prior to the payment fraud being discovered, Rank stated in its first quarter 2025/26 trading update that net gaming revenue from its digital operations in Spain was down 1% year-over-year “due to previously reported platform capacity issues”.
However, the operator noted that the issues were being addressed with a new bingo platform launch and growth for the business is expected to return in the next quarter.
Meanwhile, Enracha venues saw their NGR rise by 5% YoY, with Rank stating that the land-based operations “continued to perform well”.
Rank’s finances will also be impacted by the incoming UK gambling tax rises, with remote gaming duty set to increase from 21% to 40% in April 2026.
The group added it would be reviewing its UK digital operations in terms of “profitability, investment plans and the competitive landscape”.
John O’Reilly, Chief Executive of Rank, said: “The announced increase in Remote Gaming Duty in the UK Budget represents a very significant blow to the regulated betting and gaming industry in the UK.
“Whilst we are pleased that the Government has abolished bingo duty which will help to sustain jobs and investment in the land-based sector, the far more significant impact on the Group is the hit to digital profitability.
“In the year to 30 June 2025, Rank reported a profit after tax of £44.6m and paid taxes in the UK of £188m. That burden will now increase by a further £40m and we will look to mitigate the impact where possible.”
Rank is set to announce its interim results for the six months ended 31 December 2025 on 29 January 2026.
