The UK raises remote gambling tax, Guoco's subsidiary Rank expects profit to decrease by £40 million

AASTOCKS
2025.11.27 15:01

GUOCO GROUP (00053.HK) announced that its London-listed subsidiary Rank stated that the Remote Gaming Duty will be increased starting from April 2026 and the Bingo tax will be abolished in the UK budget. Before any mitigating measures are taken, these new costs will have an annualized impact of approximately £40 million on Rank Group's operating profit.

Rank CEO John O'Reilly stated that for the year ending in June, Rank recorded a post-tax profit of £44.6 million and paid £188 million in taxes in the UK. Now, the burden will further increase by £40 million, and the group will mitigate its impact as much as possible

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