Grosvenor Reading Central casino faces closure after £2.3m losses
Rank Group has launched a consultation over the future of its Reading venue after six years of sustained losses and revenue 19% below budget.
Grosvenor Casino Reading Central could permanently close its doors after accumulating losses of £2.3 million over the past six years, according to reports from the Reading Chronicle.
The Queens Street venue, operated by Rank Group, suffered an operating loss of £500,000 in its most recent financial year, with a further £400,000 in losses forecast if the casino continues trading.
Staff at the site received a letter on 20 July outlining the proposal to close the location. The correspondence, seen by local media, cited “significant and sustained financial challenges” identified during a detailed performance review of the casino.
According to the letter, revenue at Reading Central is currently £630,000 — or 19 per cent — below budget. Operating costs have increased by two per cent over the past eight years whilst revenue has declined by 20 per cent across the same period.
Rank Group stated in the letter: “These financial challenges have resulted in a position where continued operation of the venue may no longer be commercially sustainable. Therefore, having carefully considered all available options, the company is proposing the permanent closure of Reading Central.”
The operator added: “The proposal has not been made lightly. However, the company believes closure may be necessary to mitigate ongoing financial losses, protect the overall health of the wider business and enable resources and investment to be focused on those areas with stronger commercial prospects and long-term growth potential.”
Reading is home to two Grosvenor casinos. The second location, Grosvenor Casino Reading South, has not been flagged for closure and is understood to be performing in line with expectations.
Dozens of jobs could be at risk if the closure proceeds, though the letter emphasised that “no final decisions regarding redundancies will be made until the consultation process has been completed.”
A Grosvenor Casinos spokeswoman confirmed to the Reading Chronicle that a formal consultation process is now underway to “explore options for the long-term sustainability” of the venue. She added: “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 closure proposal comes just weeks before Rank Group is due to publish its full-year results for the 2026 financial year on 13 August. In a preliminary update released in mid-July, Rank highlighted its Grosvenor venues business as one of the main drivers behind expected record revenue of £834.1 million for the year to the end of June — up six per cent on the previous year’s £795.3 million.
Grosvenor venues generated £397.3 million in revenue during the financial year, an increase of five per cent year-on-year, making the estate the company’s primary revenue source ahead of its digital operations.
What it means for players
If you’re a regular at Grosvenor Reading Central, this consultation means the venue could close permanently in the coming months. Rank has said no final decision has been made, but the financial position looks bleak.
The good news is that Reading also has Grosvenor Casino Reading South, which remains open and unaffected. If closure does go ahead, existing customers should be able to transfer memberships and loyalty points to the sister site or any other Grosvenor venue.
For online players, this doesn’t change anything — Grosvenor’s digital casino continues as normal. But if you prefer land-based play, it’s worth checking the status of your local venue and planning alternative options if needed.
Primary source: https://cdcgaming.com/brief/uk-grosvenor-casino-in-reading-faces-closure-after-losses/
