Genting UK CEO Highlights Risks from Potential Machine Games Duty Increase

Paul Willcock, who serves as CEO of Genting UK, has issued a direct warning about the effects of doubling the Machine Games Duty from its current 20 percent rate to 40 percent. The proposal sits under review ahead of Chancellor John Healey’s Budget scheduled for October 28, 2026. Willcock stated that this change would leave 13 of the company’s venues unprofitable or unsustainable, which in turn would trigger closures and place 900 jobs in jeopardy. The annual cost to Genting would reach around £16 million, an amount that surpasses the firm’s £13.5 million post-tax profit recorded in the previous year. The operator runs 32 casino venues across the United Kingdom, and the tax adjustment targets gaming machines specifically. Data from the company shows the increased duty would exceed recent earnings, leaving limited room for continued operation at multiple sites. Observers note that such a shift concentrates pressure on locations where machine revenue forms a core part of business performance. Rank Group, owner of Grosvenor Casinos, delivered a parallel assessment earlier. That firm indicated it might need to close up to 16 of its 47 venues and could lose 1,800 positions. The sites under threat cluster mainly in less affluent areas of the North and the Midlands. Figures released by Rank Group align with the pattern described by Genting UK, where higher machine taxation hits regional operations hardest.

Details of the Proposed Tax Change

The Machine Games Duty increase under consideration would apply uniformly, yet company statements emphasize uneven outcomes across different venue types and locations. Genting UK’s calculation places the yearly burden at £16 million, which exceeds the prior year’s £13.5 million post-tax profit and removes the margin that currently keeps marginal sites open. Willcock’s statement ties this directly to the October 28, 2026 Budget timeline, noting that affected venues would face immediate viability questions once the new rate takes effect.

Rank Group’s separate analysis reaches similar conclusions for its portfolio. Up to 16 Grosvenor Casinos locations could close, resulting in 1,800 job losses concentrated in northern and midland regions. These areas already operate with tighter margins, according to the data supplied by the company. The overlap between the two operators’ warnings points to a shared exposure among venues that rely heavily on machine gaming revenue.

Employment and Operational Impacts

Nine hundred positions at Genting UK stand at risk if the duty doubles and forces the 13 venues to close. The company’s total footprint of 32 sites means the closures would represent a substantial portion of its physical presence. Rank Group faces a comparable scale of disruption, with 1,800 roles potentially eliminated across 16 locations. Both sets of figures come from the operators’ own assessments submitted in response to the tax proposal.

Venues in less affluent northern and midland districts appear most exposed because machine revenue constitutes a larger share of income there. Genting UK and Rank Group each identified these regions as the primary areas where profitability would disappear under the 40 percent rate. The combined job losses from both companies would exceed 2,700 if all threatened sites shut down.

Financial Context for the Operators

Genting UK’s £16 million additional annual cost surpasses its most recent post-tax profit of £13.5 million, creating a direct mismatch between expected tax liability and available earnings. Rank Group has not published an equivalent profit comparison in its statement, yet its closure projections indicate similar pressure on cash flow at the affected sites. The proposal remains under consideration rather than confirmed, leaving operators to model scenarios based on the 20-to-40 percent change outlined for the October 28, 2026 Budget.

Conclusion

The warnings from Genting UK and Rank Group center on the same proposed adjustment to Machine Games Duty and the resulting effects on venue viability, job numbers, and regional operations. Both companies supplied specific counts of sites and positions at risk, along with cost estimates tied directly to the October 28, 2026 Budget decision. The information presented reflects the operators’ stated positions on the single tax measure under review.