Buzz Bingo continues to target expansion opportunities within the UK high street despite toughening economic conditions.
Publishing its FY2024/25 accounts, the UK’s largest bingo operator reported group revenues of £217.2m, up 5% on FY2023/24’s £207m. Underlying EBITDA rose 20% to £41.8m (FY2023/24: £34.7m), helping Buzz Bingo deliver a second consecutive year of double-digit earnings growth.
Retail operations remained the backbone of the business, contributing £173m, a 3% increase on the £168.1m recorded in the previous year, supported by a 3% rise in customer admissions and the integration of the newly acquired Cricklewood and Northampton clubs.
Online revenues advanced 14% to £44.2m, compared with £38.9m in FY2023/24, buoyed by the success of Buzz’s Live Bingo product and cost efficiencies following the relocation of its digital operations to Gibraltar.
Closing year accounts, losses remain constant at £31m in line with 2023, as the group absorbed steep financing costs linked to its investments in club acquisitions and increased investment in IT platforms and venue upgrades.
Further strategic priorities saw leadership secure an incremental funding commitment of £25m from Barclays and its investors, to support a multi-year investment plan to modernise and transform Buzz Bingo’s clubs to appeal to a younger demographic and enhance the customer experience.
As detailed on accounts: “The future growth strategy and investment programme is supported by the Group’s key stakeholders and funders, Intermediate Capital Group Plc (ICG) and Barclays. This commitment provides the necessary funding required to undertake the Group’s significant multi-year investment programme and reflects the strategic progress made over recent years.”
The operator also pointed to shifting demographics, with more than 175,000 new customers signed up in the past 12 months, nearly half under 35.
Yet leadership remains aware of current and forthcoming headwinds. Rising National Insurance contributions, unsettled inflationary pressures, and the looming gambling levy continue to weigh on the wider leisure sector.
Group CEO Dominic Mansour said: “We have had another strong year, delivering a 20 per cent increase in EBITDA and continued momentum across retail and online.
With more Gen Zs and millennials discovering bingo, our investment programme is positioning Buzz to be the venue of choice for the next generation of players.”
Backed by majority shareholder Intermediate Capital Group (ICG) and financing partner Barclays, Buzz has secured fresh facilities through to 2027. The additional funding is earmarked for club refurbishments, technology upgrades, and further digital innovation as the group doubles down on its omnichannel strategy.
