Real Fun Group, a prominent bingo operator, has successfully acquired eight bingo clubs and associated retail facilities from Majestic Bingo, an acquisition that was completed out of administration, according to reports. The move is expected to solidify the operator’s position in the UK’s independent bingo sector.
The acquisition, which was supervised by Interpath Advisory joint administrators Tim Bateson and Chris Pole, will see Real Fun Group’s operations expand to a total of ten bingo clubs across England and Wales. This expansion is a significant step in the company’s mission to take a lead in the industry.
One of the key outcomes of this acquisition is the preservation of jobs. Despite Majestic Bingo Limited entering administration on July 7, 2023, Real Fun Group’s acquisition will ensure the employment of over 140 people and guarantee continuity for the communities these clubs serve. Kevin McGinnigle, chief executive of Real Fun Group, expressed his excitement over the opportunity, emphasizing the importance of keeping so many people employed and the role that local bingo clubs play in their community.
The acquisition deal also included corporate restructuring and advisory partners, who played a pivotal role in securing the future of these bingo clubs and jobs. Partner Sarah Teal expressed her pleasure in supporting Real Fun Group with the acquisition and highlighted the importance of securing jobs in time for Christmas. Stuart Taylor, partner in the restructuring and insolvency team, also emphasized the significance of safeguarding jobs and ensuring the continuity of local businesses.
With Real Fun Group now operating ten bingo clubs with around 200 employees, they can proudly claim to be one of the UK’s largest independent bingo operators. The company’s chief executive expressed his confidence in the successful transformation of ownership, ensuring both employer and employee satisfaction. This acquisition is not only a significant step for Real Fun Group but also a crucial move for preserving jobs and the continuity of local businesses.