The owner of Britain's largest bingo hall operator is considering selling the business, despite warnings from gambling executives that a substantial tax increase could jeopardise the sector.
Investment firm ICG has appointed bankers to advise on discussions with prospective purchasers for Buzz Bingo, it is understood. The Nottingham-headquartered chain is seeking a new owner capable of providing fresh capital to take advantage of soaring interest in bingo amongst young Britons.
Sale process and advisors
Specialist sports industry finance adviser Oakvale Capital has been brought in to oversee the potential sale of Buzz Bingo, which runs more than 75 bingo halls nationwide.
The bingo operator says online trends have sparked a revival in the game's popularity, especially amongst younger players seeking budget-friendly alternatives to an evening out, as reported by City AM. Of the 190,000 new retail customers the firm attracted last year, half were aged under 35.
Financial performance and growth
Last year, Buzz Bingo saw admissions and turnover increase for the first time since the indoor smoking ban took effect in 2007. The group grew its revenue by 11 per cent to £241m in the 2025 financial year, driven by double-digit growth at its bingo halls and through its online offerings.
Buzz Bingo aims to channel additional funds into modernising its venues and enhancing the customer experience, it is understood. The company's refurbished halls exceeded the firm's overall admissions growth by 20 per cent and drew in 49 per cent more new customers last year.
Tax raid warnings
Buzz Bingo's search for a potential buyer, first revealed by Sky News, comes amid growing warnings from the gambling industry that a tax raid in the upcoming Budget could force betting shops and bingo halls to close their doors across the country.
Chancellor John Healey has faced calls to increase machine games duty (MGD) – levied on slot machines – from 20 to 40 per cent, a move that could generate up to £458m for the Treasury.
Last month, Buzz Bingo chief executive Dominic Mansour cautioned that such a tax increase would have serious repercussions for the nation's cherished bingo halls. He said: "Unless bingo clubs are protected from such reform, the viability of bingo in the UK will be at risk. The numbers for Britain's bingo could truly be up."
Last month, the chief executive of Ladbrokes owner Entain attributed plans to cut approximately 400 jobs to the "backdrop of rising costs and increasing pressure" weighing on the gambling sector.
Stella David, chief executive of the FTSE 250 company, said: "A tax increase of the proposed scale would also risk pushing gambling activity away from the regulated high street rather than simply reducing it. The better outcome for communities and the public finances is to keep gambling within the regulated sector and, wherever possible, bring activity currently taking place illegally back into it."
Buzz Bingo was acquired by London-based ICG for an undisclosed fee in March 2021. ICG and Buzz Bingo both declined to comment.
