Buzz Bingo’s FY 2024 results highlighted “continued retail-to-online conversion” as the UK operator posted an increase in full-year revenue and earnings.
Online revenue grew by 14% to £44.2 million ($59.7m) in the 12 months to 11 January 2025. Meanwhile, the UK operator’s retail revenues edged up by 3% to £173m. While total revenue increased from £207 million to £217.2 million, underlying earnings (EBITDA) also improved by 20% from £34.7m to £41.8m.
Buzz Bingo’s holding company, Buzz Venus Group, said that the results were “testament to the company’s omnichannel strategy, as the funnel of retail customers continues to convert to online”.
Customer admissions growth
The company highlighted “strong growth in customer admissions”, with around half of its 175,000 new players “in the last 12 months” being under the age of 35, illustrating continuing momentum in 2025.
So far this year, group revenue is up 8% on last year, with a record number of customers in person and online. Group underlying EBITDA year-to-date has increased by 7% on the previous year, and 2% on a like-for-like basis.
“With more Gen Zs and millennials taking up bingo, customer admissions are in growth and up 3% year-on-year over the last quarter and, despite a very hot summer, this is our biggest quarter on record since before Covid,” Buzz Bingo CEO Dominic Mansour said.
Younger customers influx
The growth in the number of younger customers in recent months is a positive step for a brand that has tried to counter its traditional association with older players by ramping up its omnichannel offering.
In late 2024, Buzz Bingo launched a new omnichannel bingo concept, Big Money Live, to run across its digital platforms and land-based clubs.
According to recent Department of Trust UK player transaction data, Buzz Bingo was the fourth most popular brand among over-50s in Q4 of 2024. It ranked 16th in the list of the most popular gambling brands for under-50s, while competing against iGaming and betting incumbents.
Administrative expenses rise
Additionally, the operator relocated its digital business to Gibraltar last year. At the time, Buzz said the move would bring the operator closer to key suppliers and allow it to pursue international opportunities while supporting omnichannel plans.
Buzz Bingo’s FY 2024 results said the move had led to “operational efficiencies”, although the relocation has inevitably incurred costs.
Administrative expenses increased from £121.7m to £126.8m in the full-year results, leading to total losses widening from £30.9m to £31.7m. Other expenses in 2024 included the acquisitions of Merkur bingo clubs in Cricklewood and Northampton.
Omnichannel and youth focus
In July, the operator secured a £25 million funding commitment from Barclays and investors to support a multi-year investment plan to modernise Buzz Bingo’s clubs to appeal to younger demographics. Initial work to replace legacy club technology and install new electronic bingo terminals is taking place.
It will continue to focus on growing the customer base by “building on Buzz’s player-centric omnichannel offering”. This will include “an enhanced omnichannel customer loyalty programme”.
The operator added: “The group remains well-positioned to capture the growth opportunity in the bingo market as more and more young players seek out great value leisure experiences in their local communities and online.”
Original article: https://igamingbusiness.com/casino-games/bingo/youth-influx-as-buzz-bingo-highlights-online-conversion-in-fy-2024/
