21
DEC
Buckingham Bingo Halls to Be Sold Off in Groups

Buckingham Bingo Halls to Be Sold Off in Groups

Written by: Nikola Zugic on 21/12/2010 12:20

Some time ago we wrote about the uncertain future of land based bingo operator Buckingham Bingo who has been providing venues for thousands of bingo players in the North for many years. Sadly it seems that the company is still struggling to find a buyer with 10 remaining bingo halls yet to be sold. KPMG is running out of time and it seems their only option will be to sell the halls of individually to interested parties.
 

Buckingham Bingo was purchased in 2005 for £90 million by Alchemy Partners, since then they have had to write off £76 million in debts meaning Barclays Ventures (who bought the debt) basically now owns the company. The clubs will be sold off to cover this debt with Praesepe being the hot favourite to buy the majority of the brands assets.
 

 

Praesepe is a fairly young company that specialises in gaming machines aimed at the adult market, they tend to look for high traffic venues to base their ventures and have enjoyed vast growth despite the recession hitting hard in the UK.
 

 

Some news outlets predict that a deal could be struck as early as January 2011, whether the bingo halls will remain Buckingham branded is unknown.
 

Source: MEM

 

Categorised Under: Bingo News,
Current Article Rating
Login to Rate 

0 Comments

Login to Comment 

Archive

Newsletters

Signup for your email updates.Get special offers, news, competitions and more!

Newsletter Signup Submit 
Top