Rank Group-owned Grosvenor Casinos has confirmed it has begun a formal consultation process regarding the long-term future of its Reading Central casino venue.
The consultation follows reports from local publication The Reading Chronicle that staff at the site were informed last month that Rank was considering shutting the facility down entirely.
A letter sent to employees cited “significant and sustained financial challenges” that were identified during a recent review of the casino’s ongoing performance.
The letter also revealed that revenue at the Reading Central venue was £630,000 below budget, a figure that underlines the scale of the financial difficulties facing the site.
Further details in the letter confirmed the venue has recorded a loss for six consecutive years, with the total accumulated loss for that period reaching £2.3m.
Grosvenor Casinos confirmed to NEXT.io that the consultation would focus on efforts to “explore options for the long-term sustainability” of the Reading Central location.
A spokesperson described the decision as “difficult” and confirmed the operator would provide support to staff throughout the process as it unfolds.
“As part of good business practice, we regularly review the performance and long-term health of our venues to ensure we are making responsible decisions for our colleagues, customers and the wider business,” the spokesperson said.
“We are working closely with our team members in Reading Central to ensure we keep them updated and informed as we go through this process,” the spokesperson added.
The news arrives ahead of Rank publishing its full-year financial results for the 2026 financial year, which are scheduled for release on 13 August following a preliminary update issued in mid-July.
That earlier update pointed to expected record revenue of £834.1m for the 12 months to the end of June, beating last year’s record of £795.3m by 6%, with Grosvenor venues playing a central role in that growth.
Grosvenor venues are expected to generate £397.3m in revenue for FY26, representing a 5% year-on-year increase and cementing their position as the primary source of revenue across Rank’s portfolio.
Rank’s digital business saw the strongest proportional growth, with an expected 8% revenue increase, while its Mecca and Spanish-facing Enracha venues both performed in line with expectations.
Also last month, Richard Harris was confirmed as permanent CEO of Rank Group after serving in the role on an interim basis following the retirement of former CEO John O’Reilly in January.
