Buzz Bingo eyes acquisition of UK's biggest bingo venue
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UK omnichannel bingo brand Buzz Bingo is in advanced talks to acquire two new Merkur sites including the UK’s largest bingo club in Cricklewood, London.
Buzz Bingo said the Cricklewood venue and Merkur’s Northampton venue are “geographically complimentary” to the company’s existing UK footprint.
Its chief executive Dominic Mansour added the company is looking to take advantage of a “renaissance” in UK bingo activity, with Buzz having posted a five per cent rise in retail revenue, a 31 per cent rise in online revenue and a 14 per cent adjusted EBITDA jump in 2023.
The two clubs have been in their respective communities for over 25 years and they jointly welcomed 410,000 visitors throughout 2023.
Admissions at the two sites are up by around five per cent in the year-to-date, Buzz Bingo added.
“These are exciting developments for Buzz Bingo as we continue to implement our omnichannel strategy to be the nation’s number one choice for bingo across both online and retail, and to deliver on the international opportunity,” Mansour said.
Buzz Bingo has also confirmed that it is relocating it digital business to Gibraltar “in preparation” for a “compelling growth opportunity internationally.”
“The move will provide the business with a number of strategic advantages, including greater proximity to its key suppliers, a platform to pursue international opportunities, and will bring Buzz Bingo in line with its major competitors, many of whom already have a presence in the region,” the company said.
