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Rank's Spanish unit lost €7.1M in a fraud, but company remains optimistic amid tax changes and expansion plans.
Rank, owner of Mecca Bingo, revealed its Spanish subsidiary suffered a €7.1 million (£6.2 million) payment fraud, prompting a police report and internal investigation.
The loss will be treated as an exceptional item in its 2025/26 results.
The company faces ongoing pressure from the UK’s increased remote gaming tax, expected to cut annual earnings by £46 million, partially offset by a £6 million bingo duty removal, resulting in a net £40 million impact.
Despite this, Rank remains optimistic, citing investments in customer safety and new government reforms allowing more gaming machines and sports betting in casinos, with plans to add 850 machines this year.
Analysts expect strong interim results on January 29, viewing the fraud as isolated.
La unidad española de Rank perdió 7,1 millones de euros en un fraude, pero la empresa sigue siendo optimista en medio de los cambios impositivos y los planes de expansión.