Friday, November 22, 2024

Buzz Bingo relocates digital business as Merkur club acquisitions talks continue

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Buzz Bingo has announced it is relocating its digital business to Gibraltar, while the operator has also revealed it is in advanced discussions to acquire two UK land-based clubs from Gauselmann Group-owned Merkur.

The Gibraltar move, Buzz Bingo says, will offer several strategic advantages to the business. These include greater proximity to its key suppliers and a platform to pursue international opportunities.

Buzz Bingo also says the relocation supports its omni-channel growth plans. In 2023, group retail revenue increased 5% year-on-year while online revenue jumped 31%.

“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,” Buzz Bingo chief executive Dominic Mansour said.

“These are exciting developments for Buzz Bingo as we continue to implement our omni-channel strategy to be the nation’s number one choice for bingo across both online and retail, and to deliver on the international opportunity.”

Buzz Bingo set for double Merkur purchase 

Meanwhile, as part of wider growth plans, Buzz Bingo is in talks to acquire two UK bingo clubs from Merkur.

The clubs in question are located in Cricklewood in London and Northampton. Should the deal go through as expected, both venues will join the Buzz Bingo UK retail estate.

Together, the two clubs welcomed more than 410,000 visitors in 2023. Cricklewood is the largest bingo venue in the UK. It also holds the Guinness World Record the biggest single bingo house prize – £100,000 (€116,554/$126,702).

Buzz Bingo says the double acquisition supports its plans to capture anticipated ongoing growth in Bingo in the UK. This, it says, is being driven by younger demographic, with the number of people aged 25-34 doubling between 2018 and 2023.

“Bingo in the UK is having a renaissance,” Mansour said. “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.”

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