Plans To Re-Open Top Ten Bingo Club Dashed
Friday, 19 February 2010 11:23

There had been hope that the closed bingo club in Fleetwood might be re-opened with new investor plans.  The Club which had previously been operated by Top Ten Bingo has been closed since last April. A Mr Richmond had plans to invest £100,000 in renovating the bingo club on Poulton Road to re-open it in time for the summer. This was in addition to the cost of acquiring the site. Rocky Richmond who had been a manager of the Orion Bingo Club for 12 years said it was nearly impossible to make the purchase as the building itself was leased by Top Ten Bingo but was owned by a different investor. "Its a great shame" he said "The company has put it together with nine other bingo clubs into a portfolio that they are not prepared to split". However the Mr Richmond is not giving up and is determined to open up his own bingo club however difficult "I need about 10,000 square feet or more and there are not many sites of that size".

Residents and nearby business owners of the old boarded up bingo club have repeatedly raised complaints of the state of the building. It's an eyesore. Pet shop owner, Diane Garside said "The Police come about the graffiti to see if there was anyone shown on our CCTV but it didn't show anything" Local Businessmen, David Bennett, added "People have said it looks a mess. It's bad for the area because it looks so run down. When it's open it attracts trade because people are standing there waiting for taxis and they are looking over here".

James Walker of the Caddy Shack commented, "we want it open as it's only going to get worse"

As reported in previous articles Top Ten Bingo has closed or sold nearly 25% of its estate over the last since few years and has plans to continue this strategy. The Bingo bingo operator, which at its peak operated around 40 bingo clubs has been one of the worst hit operators in the gaming industry, and has been lucky to renegotiate banking arrangements having admitted on multiple occasions of failing to meet its obligations. The company had pursued a risky strategy in mergers and acquisitions prior to the recessions. It is suggested that during this period they failed to fully take account of the impact of the  online sector and no smoking ban and as such overpaid for assets. The share price lost over 95% prior to being delisted off the AIM last year.

 

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