Genting UK CEO Warns of Closures as Machine Games Duty Hike Looms in October 2026 Budget
Written by Klara Richter · Oct 4, 2026
Genting UK CEO Warns of Closures as Machine Games Duty Hike Looms in October 2026 Budget
Genting UK chief executive Paul Willcock has outlined the direct consequences that would follow if the government raises Machine Games Duty from 20% to 40% in the Budget scheduled for 28 October 2026, stating that 13 of the company's 32 venues would shift into unprofitable territory and face potential closure.
The proposed increase targets slot machines and similar terminals and stems from a July 2026 recommendation by the Social Market Foundation, with the higher rate projected to add roughly £16 million in annual costs for Genting UK alone.
Financial Pressures Outlined by Company Leadership
That extra tax burden would exceed the £13.5 million post-tax profit recorded by the company in its most recent full year, leaving limited room for continued operations at marginal sites while placing approximately 900 positions at risk across the affected locations.
Willcock presented the figures to illustrate how the duty change would move multiple venues from sustainable to unsustainable status without any corresponding adjustments in revenue or operating costs.
Broader Industry Response and Parallel Warnings
Rank Group, which operates Grosvenor Casinos, has issued comparable statements indicating that up to 16 of its 47 UK venues could close under the same tax adjustment, showing that the issue extends beyond a single operator.
Both companies have highlighted the concentration of machine revenue within their portfolios and the narrow margins that already exist at many high-street and regional sites.
Chancellor John Healey is scheduled to deliver the Budget on 28 October 2026, and the duty rise remains one of several revenue-raising measures under consideration ahead of that date.
Timeline and Policy Origin
The Social Market Foundation floated the 40% rate in July 2026 as part of a wider review of gambling taxation, prompting operators to model the impact on individual properties and employment levels.
Willcock's assessment covers the full Genting UK estate and focuses on venues where machine income forms a large share of total revenue, making those sites especially sensitive to the duty change.
Employment and Operational Implications
The 900 jobs cited in the Genting UK analysis represent roles tied directly to the 13 venues that would fall below break-even after the tax adjustment, including croupiers, technicians, security staff and venue management.
Closure decisions would unfold over subsequent months once the new rate took effect, with the company indicating that restructuring would begin at the earliest affected sites.
Rank Group's parallel projection of 16 closures underscores the pattern across multiple operators, where venues with lower footfall or higher fixed costs would be the first to exit the market.
Conclusion
The warnings from Genting UK and Rank Group supply specific venue counts, cost estimates and employment figures that frame the potential effects of doubling Machine Games Duty ahead of the 28 October 2026 Budget, leaving the final policy decision with Chancellor John Healey and the government.