Coventry venue to close in 2026
Genting Casinos announced on October 2, 2026, that it will close its land-based venue in Coventry. The company stated the establishment, which opened in 2012, is “no longer commercially viable to sustain trading.” The closure will affect 51 staff members at the location.
The decision follows a period of significant financial strain within the UK land-based casino sector. Genting attributed the closure to “commercial pressures,” specifically citing a combination of rising operational costs and increased regulatory and tax burdens.
Citing cumulative cost pressures
In a statement, Genting detailed the specific factors contributing to the decision. The operator noted that casinos have absorbed substantial increases in employment costs, business rates, energy costs, and regulatory compliance expenditure over recent years.
“These cumulative pressures have significantly reduced margins across the sector and are making it increasingly difficult for highly regulated venues to remain commercially sustainable,” Genting said. The company described the closure as a demonstration of the “real-world consequences” of a business environment where costs continue to rise while taxation places increasing pressure on commercial viability.
Taxation debate ahead of Budget
The announcement comes shortly before Chancellor of the Exchequer John Healey is scheduled to present his first Budget on October 28. This timing has intensified scrutiny of the fiscal framework for the gambling industry, particularly regarding Machine Gaming Duty (MGD).
Discussions are currently underway regarding potential doubling of MGD rates. The proposed changes would raise the lower rate from 5% to 10%, the standard rate from 20% to 40%, and the higher rate from 25% to 50%. The Social Market Foundation has called for such an increase, a position also supported by former UK Prime Minister Gordon Brown, who served from 2007 to 2010.
These potential changes follow recent tax adjustments in the sector. In the previous year’s Budget, then-Chancellor Rachel Reeves raised the Remote Gaming Duty from 21% to 40%. Additionally, a General Betting Duty increase from 15% to 25% was announced, with the new rate set to begin in April 2027.
Industry warns of further closures
Genting warned that any increase in Machine Games Duty would force the closure of multiple venues across the country. The company stated this would result in the loss of hundreds of skilled jobs and reduce economic activity in towns and cities where casinos contribute to the leisure, hospitality, and night-time economy.
“Such closures would also reduce investment in local communities, diminish consumer choice and ultimately reduce tax revenues from a sector that already makes a significant contribution to the UK economy,” Genting said. The operator also alluded to the risk of organised crime becoming more prominent as illegal high street casinos fill the vacuum left by the regulated sector.
The broader industry has echoed these concerns. Fred Done, founder of Betfred, predicted that high-street betting “will become extinct by 2030.” Industry leaders have warned that continued financial pressures will lead to further job losses and betting shop closures, with some operators currently considering or in the process of sizing down their real estate portfolios.
Why It Matters
The closure of Genting's Coventry venue signals growing instability in the UK land-based casino sector. With 51 jobs at stake and further closures threatened by proposed Machine Gaming Duty increases, the outcome of the upcoming Budget will determine the viability of remaining regulated venues. This development underscores the direct impact of tax policy on local economies and employment in the gambling industry.
Sarah Thompson is an editorial byline used by Casino No Deposits for industry news coverage. Articles published under this byline are summarised from reporting by licensed gambling industry news sources and produced with AI assistance, then published against our editorial rules on accuracy, sourcing and tone. They are not first-hand reporting and do not contain personal player accounts. Our full process, including how bonus listings and ratings are maintained separately by our team, is documented in how we review casinos: https://casinonodeposits.com/how-we-review-casinos/
Looking for somewhere to play? See our current no deposit bonus offers, updated with verified codes and full wagering terms.
4.6/5
