Rank Group suffers a fraudulent payment incident costing it €7.1m

• Rank Group reported a fraudulent payment transaction that cost it millions
• The company has contacted local authorities in Spain and launched an independent investigation
• Investors are now waiting in the aisles to see how the incident will impact the company’s financial performance

Rank Group reported on Monday that its Spanish business has been hit with a security incident, resulting in a fraudulent payment made and costing the company €7.1m.

Rank Group launches an investigation to establish facts around the incident

Despite the security oversight, the company assured that it remained in a strong cash position, but the incident is still going to weigh on the company, which is facing pressure in the United Kingdom, where a confirmed new tax on online gambling will suppress the group’s operational profit.

The news saw Rank Group’s stock slide slightly on Monday, with the company contacting local authorities and launching an independent investigation with the help of a third-party law firm.

In a statement, Rank Group said: "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."

AJ Bell investment director Russ Mould also commented that the slide in share price value was a signal by investors that they were now looking to see if the incident would affect the company’s overall performance more significantly.

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