One of Europe’s largest gambling operators has suffered a multimillion‑euro payment fraud incident affecting its Spanish business.
Rank Group’s share price fell after the company confirmed that its Spanish operations had been impacted by a €7.1 million ($8.33 million) payment fraud event.
Investigations Underway in Spain
Local police are currently investigating the incident, which affected Rank’s operations across nine Enracha‑branded venues and two Yo‑branded online gaming and betting platforms. Rank has also launched an internal investigation and engaged independent legal counsel to review the circumstances surrounding the fraudulent transaction.
In a statement, the company noted:
“Given the exceptional nature of this incident, Rank Group expects to treat the financial impact as a separately disclosed item in relation to its 2025/26 performance.”
Despite the setback, Rank emphasized that it remains in a strong cash position. The company described the fraud as “exceptional” and acknowledged that criminal activity adds further pressure to operators already navigating highly regulated markets.
Additional Headwinds at Home
Rank is also preparing for a more challenging tax environment in the United Kingdom next year. The company has projected that the upcoming tax increase will reduce its operating profit by £40 million ($53.75 million).
Further details on the fraud incident will be released as investigations progress.
A Growing Trend of Criminal Targeting in the Gambling Sector
Rank Group is the latest major gambling operator to be hit by criminal activity. Last week, MGM Resorts International began distributing payments from a $45 million settlement tied to a class‑action lawsuit over a data breach that exposed customer information.
Earlier this year, OYO Hotel & Casino was also targeted by cybercriminals, with the breach only becoming public in late October.
As investigations continue, more information about the method of attack on Rank Group is expected to emerge.
