Buzz Bingo in Talks to Acquire Two Major UK Bingo Clubs
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Buzz Bingo, the UK’s leading omnichannel bingo brand, has announced that it is in advanced discussions to acquire two of the largest bingo clubs in the UK, namely the MERKUR sites located in Cricklewood and Northampton, according to an official press release published by MERKUR Casino.
These two high-performing clubs complement Buzz Bingo’s existing locations, with the acquisition set to bring MERKUR Cricklewood, the UK’s largest bingo venue, under the umbrella of Buzz Bingo’s extensive retail estate.
For over 25 years, these clubs have served as central hubs in their communities, offering value-driven entertainment with a focus on low-stake bingo and frequent winners. In 2023 alone, the two venues attracted 410,000 visitors and have continued to show growth, with admissions increasing by approximately 5% across both sites so far this year, according to G3 Newswire.
On average, the clubs collectively pay out more than £1 million in winnings each month. Notably, the Cricklewood location boasts over 3,500 winners monthly and holds the Guinness World Record for the largest single bingo house prize ever awarded, which amounted to £100,000.
This potential acquisition aligns with Buzz Bingo’s recent growth trajectory. The company reported a 5% increase in retail revenue, a 31% surge in online revenue, and a 14% rise in EBITDA in 2023. Buzz Bingo has also been focusing on enhancing its omnichannel offering, which has significantly contributed to its growth. The company’s digital business has doubled its market share over the past two years and is growing at three times the rate of the market.
Buzz Bingo is strategically positioned to capitalize on the anticipated growth in the UK bingo sector, driven by a resurgence in consumer confidence within the leisure industry and a rising interest from younger demographics. The number of 25-34-year-olds playing bingo in 2023 has doubled compared to 2018.
Strategic Move for Further Growth
Furthermore, Buzz Bingo sees significant growth opportunities internationally. To this end, the company has decided to relocate its digital business to Gibraltar. This strategic move will offer several advantages, including closer proximity to key suppliers, a robust platform for pursuing international opportunities, and alignment with major competitors, many of whom are already based in Gibraltar.
Dominic Mansour, Chief Executive of Buzz Bingo, on these developments: “Bingo in the UK is experiencing a renaissance, and Buzz Bingo stands out as one of the leading online bingo brands with the largest retail footprint, positioning us well to capture this growth.
“After a period of stabilization, our business is now thriving. We are thrilled about the prospect of acquiring these two prominent bingo clubs following a strong year of performance. With the growing demand for bingo and our exceptional online performance, Buzz Bingo is preparing for accelerated growth, which underpins our decision to move our digital business to Gibraltar. These are exciting developments for Buzz Bingo as we continue to implement our omnichannel strategy. Our goal is to be the nation’s number one choice for bingo, both online and in retail, and to seize international opportunities.”
As Buzz Bingo moves forward with its plans, the acquisition of the MERKUR sites in Cricklewood and Northampton represents a significant step in expanding its presence and enhancing its service offerings to a broader audience. The company’s focus on combining retail and digital experiences is poised to solidify its leading position in the UK’s bingo industry while exploring new growth avenues internationally.
