{"id":145,"date":"2024-06-16T06:23:35","date_gmt":"2024-06-16T03:23:35","guid":{"rendered":"https:\/\/lionsslotsnodepositbonus.icu\/2024\/06\/16\/buzz-bingo-secures-funding-as-uk-bingo-halls-prepare-to-reopen\/"},"modified":"2024-06-17T12:57:48","modified_gmt":"2024-06-17T09:57:48","slug":"buzz-bingo-secures-funding-as-uk-bingo-halls-prepare-to-reopen","status":"publish","type":"post","link":"https:\/\/lionsslotsnodepositbonus.icu\/2024\/06\/16\/buzz-bingo-secures-funding-as-uk-bingo-halls-prepare-to-reopen\/","title":{"rendered":"Buzz Bingo Secures Funding as UK Bingo Halls Prepare to Reopen"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/6M4UYBwVyJ8\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>In the wake of the COVID-19 pandemic, Caledonia Investments chose to divest its holdings in Buzz Bingo.<\/p>\n<p>Caledonia Investments unloaded its shares at a reduced cost to Intermediate Capital Group (ICG).<\/p>\n<p>The investment group declined involvement in the most recent round of financing.<br \/>\nHaving infused \u00a322 million (US$30.6 million) in the summer of 2020, the company elected not to reinvest after the third nationwide lockdown.<br \/>\nConsequently, ICG and Barclays will furnish Buzz Bingo with additional funds as the bingo proprietor has faced difficulties throughout the past year because of the pandemic&#8217;s effects.<br \/>\nICG has maintained a longstanding alliance with Buzz; it has committed \u00a318 million to guarantee the company&#8217;s seamless operation once the lockdown concludes.<br \/>\nMoreover, Barclays extended a \u00a310 million loan arrangement, which will bolster further investments in Buzz Bingo and the expansion of its digital enterprise.<br \/>\nBuzz Bingo Chief Executive Chris Matthews stated: \u201cThis agreement equips us with the financial resources to execute our plan to be the premier retail and online bingo enterprise for our patrons and our personnel.<br \/>\n\u201cPrior to the pandemic, our business exhibited strong performance with unprecedented customer volumes relishing Buzz Bingo\u2019s distinctive blend of in-club and digital encounters. However, lockdowns have resulted in only approximately six weeks of full operation since March 2020.\u201d<br \/>\nNotwithstanding the obstacles confronting its land-based operations, Matthews highlighted the growth of the company\u2019s online platform.<br \/>\n\u201cWe have also seized the chance to hasten the expansion of our internet-based business, Buzzbingo.com, which has achieved remarkable results and now stands as a market-leading entity in its own right, a mere two years post-launch,\u201d he remarked. <\/p>\n<p>UK bingo hall giant, Buzz Bingo, is preparing to reopen its doors to eager players starting May 17th, 2021.  With a nationwide presence of 91 venues, the company is set to reignite the thrill of the game and the joy of calling out &#8220;Bingo!&#8221; live after an extended shutdown caused by the global health crisis. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the wake of the COVID-19 pandemic, Caledonia Investments chose to divest its holdings in&hellip;<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Buzz Bingo Sold After COVID-19 Struggles: What<\/title>\n<meta name=\"description\" content=\"Caledonia Investments divests its Buzz Bingo holdings after the pandemic. 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