Buzz Bingo to relocate digital business
The business will move to Gibraltar.
UK.- Buzz Bingo has announced that it is moving its digital arm to Gibraltar. It says the move will provide several strategic advantages, including increased proximity to key suppliers, the ability to seek international opportunities and support for omnichannel growth plans.
Buzz Bingo chief executive Dominic Mansour said: “With demand for bingo growing, and our exceptional online performance, Buzz Bingo is positioning the business for accelerated growth, which is the key rationale behind our decision to move our digital business to Gibraltar.
“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.”
Meanwhile, Buzz Bingo said it is in talks to buy two UK bingo clubs from Merkur. The venues in Cricklewood in London and in Northampton would join Buzz Bingo’s UK retail portfolio. Cricklewood is the largest bingo venue in the UK and holds the Guinness World Record for the biggest bingo house prize – £100,000.
Mansour said: “Bingo in the UK is having a renaissance. Buzz Bingo is one of the UK’s leading online bingo brands with the largest retail footprint and is therefore well-placed to capture this growth. Following a period of stabilisation for the business, it is now thriving. We are delighted to be acquiring these two leading bingo clubs following a year of strong performance.”
Buzz Bingo reported revenue of £195.1m for the 12 months ending January 14. That’s a rise of 39.6 per cent. Retail revenue rose 47.2 per cent year-on-year to £165.4m thanks to the lifting of Covid-19 countermeasures, and online revenue rose by 8.2 per cent. The release of the figures came after the brand announced the closure of nine of its 91 Buzz Bingo venues in March.
