4 Oct 2026
Genting UK Warns of Major Casino Closures Over Proposed Tax Rise
Paul Willcock, chief executive of Genting UK, stated that the operator intends to shut 13 of its 32 British casino venues if the government raises the Machine Games Duty rate from 20 percent to 40 percent during the October 28 Budget. The proposed increase targets fixed-odds betting terminals that include roulette and blackjack machines, and company figures indicate the change would render multiple sites unprofitable.
Details of the Warning Issued by Genting UK
Willcock outlined the scale of the planned closures in direct correspondence with officials, noting that more than one-third of the existing estate faces immediate risk. The sites in question generate revenue primarily through gaming machines, and calculations supplied by the company show an annual cost increase of roughly 16 million pounds once the higher duty applies. That figure exceeds the 13.5 million pounds in post-tax profit recorded by Genting UK in the previous financial year.
Observers note that the tax adjustment would apply uniformly across fixed-odds terminals regardless of venue size or location. Genting UK currently operates casinos in major cities and regional towns, and the 13 venues identified for potential closure span both high- and lower-performing locations. Company records list approximately 900 positions tied directly to those sites, with roles ranging from croupiers and cashiers to security and management staff.
Financial and Employment Implications
Internal projections prepared by Genting UK forecast that the doubled duty rate would eliminate operating margins at the affected properties. The same models show that remaining venues would absorb only a fraction of displaced machine revenue, leaving the majority of the 16 million pound burden to be met through cost reductions. Employment data supplied alongside the warning identifies the 900 at-risk roles as concentrated in customer-facing and operational functions, with limited scope for internal relocation once closures begin.
Rank Group issued a comparable statement earlier in the same month, indicating that similar duty increases would force parallel decisions across its own portfolio. Together the two operators represent a substantial share of the licensed casino sector in Britain, and their combined warnings have drawn attention to the potential concentration of closures in specific regions.
Background on the Machine Games Duty Proposal
The Machine Games Duty currently stands at 20 percent on gross gaming revenue from qualifying terminals. The October 28 Budget process has generated speculation that the Chancellor may double this rate, a move framed within broader fiscal planning referenced in earlier policy discussions from July. Genting UK’s submission to the Treasury emphasises that the increase would apply to machines already subject to existing licensing and regulatory requirements under the Gambling Act 2005.
Revenue statistics published by the company for the most recent full year place machine income as the dominant contributor at the venues now under review. Alternative revenue streams such as table games and ancillary services have not offset the projected duty rise in the internal forecasts provided. The 16 million pound annual impact therefore reflects the direct arithmetic of applying the higher rate to current machine turnover levels.
Industry Context and Parallel Announcements
Industry-wide data compiled by trade bodies shows that machine gaming accounts for the majority of revenue at many smaller and mid-sized casinos outside central London. Genting UK’s estate reflects this pattern, and the proposed closures align with locations where machine duty forms the largest single tax line item. The 32 venues currently operated by the company include both purpose-built casinos and conversions of older premises, yet the 13 sites flagged for potential shutdown share comparable reliance on terminal-based play.
Rank Group’s earlier announcement referenced similar exposure across its 50-plus venues, although the precise number of closures cited by Rank remains separate from Genting’s figure. Both statements reference the same October 28 date and the same duty-rate proposal, indicating coordinated timing ahead of the Budget announcement.
Conclusion
The warning from Genting UK sets out a clear sequence: a rise in Machine Games Duty to 40 percent would trigger closure of 13 venues, place 900 positions at risk, and impose an annual cost exceeding the prior year’s post-tax profit. The statement arrives alongside a parallel alert from Rank Group and focuses exclusively on the impact of the October 28 Budget measure on fixed-odds terminals. All figures cited originate from company submissions and public financial records referenced in the original reporting.