Buckingham Bingo considers sale

3rd January 2011 11:12 AM

We have seen many bingo operators caught in a financial struggle, particularly where the land bingo side of the business is concerned. Well known operators such as Gala and Mecca Bingo have each had to re structure their business to enable their land based halls to become more profitable. The news has come of yet another operator struggle as Buckingham Bingo considers a sale of some of their land based halls. In fact, is has not been ruled out that a complete sale of the business could be a possibility.

There have been a few rumblings that Buckingham Bingo has been struggling recently, and some kind of shake up could be on the cards. It is only now that some kind of clear direction for the business has become clear. How this decision will affect their online bingo site, Bucky Bingo, is not yet clear. Certainly if it is decided only to sell off some of the 10 halls that they operate in the north of the UK, then there would be no reason to assume that their online bingo site could be affected. However, if the company were to be sold as a whole, then this of course could not guarantee the future of any part of the business.

A sell off has been talked about since September and since then it is said that Buckingham Bingo has seen much interest and it is expected that some deals could be concluded sometime this month.

The problems for company have been ongoing for some time and back in 2005 Alchemy Partners, a British private equity firm bought the company for what is believed to be £90 million. Three years later control of the company was lost when their stake in the business was written off in return for a debt waiver.

If the interest in Buckingham Bingo is as high as it is said to be, we could soon be seeing a complete re structure of the business in a bid to encourage people to play bingo.

Written by Hannah Jones

Bingo Sites Homepage