The owner of one of the largest bingo chains in Britain is currently considering a sale, despite potential budget tax changes that could jeopardise the industry’s future.

Sources have indicated to Sky News that ICG, which has been in ownership of Buzz Bingo since 2021, has engaged bankers to facilitate discussions with prospective buyers. Buzz Bingo operates over 75 clubs nationwide and provides employment for more than 2,000 individuals.

Insiders suggest that the aim of this process is to attract new investors who can inject capital into Buzz Bingo, fostering the company’s growth trajectory. Oakvale Capital, a firm specializing in corporate finance for the sports and gaming sector, has been brought on board to guide this initiative.

In recent months, Buzz Bingo has shown significant progress, reporting an increase in admissions and revenue for the first time since the introduction of the smoking ban in venues in 2007.

The latest figures indicate that the chain drew in 190,000 new retail customers during the last financial year, with half of these customers under the age of 35. However, the company’s chief executive, Dominic Mansour, has raised alarms about the detrimental effects of ongoing tax increases on the UK gaming sector.

He has been quoted expressing that, “Unless bingo clubs are protected from such reform, the viability of bingo in the UK will be at risk,” adding that, “The numbers for Britain’s bingo could truly be up.” His comments follow the recent removal of Bingo Duty by former Chancellor Rachel Reeves less than a year ago.

As speculation mounts that Machine Gaming Duty may see an increase in the upcoming Budget, industry leaders have voiced concerns that this could render many sites unfeasible. Mr. Mansour warned that a duty hike this month “would mean the closing of clubs and would be a huge risk to jobs.” Notably, a previous attempt to sell Buzz Bingo, managed by Nomura in 2023, was ultimately abandoned.