Losses slashed at major bingo operator
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Pre-tax losses have been slashed at the company behind one of the largest bingo operators in the UK despite the "catastrophic" impact of Covid-19 on the leisure industry.
Nottingham-headquartered Buzz Venus Group, which is the holding company for the Buzz Bingo business, has posted a revenue of £139.8m for the year to 15 January 2022, up from £122.2m in 2021.
Pre-tax losses were cut from £130.6m to £51.8m over the same period.
All of the company's clubs were closed at the start of financial period and remained closed until May 2021. As a result of the lockdowns, the retail sites were only open for 67 per cent of the total available trading days.
At 15 January 2022, Buzz Bingo employed more than 2,600 colleagues across its retail and online operations.
A statement signed off by the board said: "The effect of the Covid-19 pandemic on the leisure industry has been catastrophic, and the group has not escaped the impacts of this.
"On reopening, the business maintained its strong Covid-19 measures for both colleagues and customers, which it had first introduced in the prior year, and repositioned the core product offerings to better match the expected new trading dynamics.
"The business had a successful reopening phase, which is testament to the skill and dedication of our colleagues. The reopening itself exceeded expectations, with the club environment and the underlying changes to the products being well received by both customers and colleagues."
