Lindar Media increased revenue to £120.3 million for the year ended 31 December 2025, but its operating profit fell to £8.4 million.

The St Albans-based company behind MrQ reported revenue of £120.3 million, compared with £96.9 million in its previous reporting period. That earlier period covered 15 months and ended on 31 December 2024.

The stronger top line did not translate into stronger returns. Gross profit fell from £21.1 million to £19.8 million. Operating profit dropped from £11.3 million to £8.4 million.

Revenue rose while margins narrowed

Revenue measures money earned before operating costs. Gross profit shows what remains after direct costs. Operating profit also subtracts wider expenses such as staffing, technology, marketing and administration.

  • Revenue rose by about 24%.
  • Gross profit fell by about 6%.
  • Operating profit fell by about 26%.

Based on the reported figures, Lindar’s operating margin narrowed from roughly 11.7% to 7.0%. The comparison is not a complete measure of the company’s financial health, because the previous reporting period covered 15 months. It does show how much profit disappeared behind the revenue increase.

iGamingHouse reported the figures as Lindar faces higher tax and cost pressure across the British online casino market.

Higher gambling duty changes the calculation

The pressure is becoming more direct for online casino businesses serving Great Britain. The Treasury increased Remote Gaming Duty from 21% to 40% for accounting periods beginning on or after 1 April 2026.

The change applies to remote gaming. It is separate from the new 25% remote betting rate, which begins on 1 April 2027. Bingo Duty was abolished from 1 April 2026.

Lindar’s directors warned that higher gambling duty, corporation tax and employment costs could reduce the level of profit the group can maintain. The company also identified artificial intelligence as a material business risk and said it is investing in an AI strategy.

Lindar is growing its revenue while facing a market in which tax and operating costs leave less room for profit.

What the licence records show

The Gambling Commission’s public register lists mrq.com against two businesses, Lindar Media Limited and Tek Fox Ltd. The register says domain information is supplied by gambling businesses and is not guaranteed by the Commission.

Lindar Media’s own licence page displays an active remote gambling software licence, account number 51250, dated 4 April 2018. A remote casino operating licence is normally required to provide online casino facilities to consumers in Great Britain.

The public register alone does not establish which company performs each operator function for MrQ. The relationship between Lindar Media, Tek Fox and the website should not be reduced to a single licence claim.

Why the figures matter for players

Lindar’s accounts reflect a wider challenge in Britain’s regulated online casino market. Operators can increase revenue through stronger brands, product investment and customer activity while retaining less money after direct costs and tax.

The company said the wider UK market remains largely static. Growth may therefore depend more on taking market share from rivals than on a rapidly expanding customer base.

For players in Great Britain, the commercial pressure could eventually affect product design, marketing budgets, payment costs, account controls or returns. The accounts do not show that Lindar has made any specific player-facing change.

Lindar also has a regulatory history relevant to its compliance profile. In a decision dated 20 September 2023, the Gambling Commission recorded a £690,947 regulatory settlement after finding anti-money-laundering and social-responsibility failings covering the period from July 2021 to September 2022.

The 2025 accounts capture the tension clearly. MrQ is generating substantially more revenue, but its reported operating profit is shrinking. Great Britain’s higher remote gaming tax has since moved from a future warning to an effective cost for the industry.