I have a soft spot for bingo halls. Back in my days as a corporate financier, I sold a chain of 30 bingo halls to a venture capitalist. As a team, we made several visits to the bingo hall portfolio, meeting the local managers and talking to customers. Without exception, each bingo hall was welcoming, warm and fun. That was back in the late 1990’s. Despite the National Lottery (or perhaps because of it!), the British bingo industry thrived in the early part of this decade. However, it looks like times are getting much tougher for the industry. In the hospitality industries - pubs, nightclubs, casinos, betting shops and bingo halls - it is British bingo that is suffering the most at the hands of the smoking ban.
A new report from Mintel estimates that between 2007 and 2008 alone the bingo market will decline by some 12% to be worth less than £2.5 billion. This is in sharp contrast to the 24% increase seen between 2004 and 2005, the industry’s most recent growth peak.
What is more, over the next year admissions are set to drop 8% as many bingo players choose to stay at home instead. As a result, the Bingo Association further predicts that around 200 bingo halls are likely to close in the near future, with small local ones set to be worst hit.
“The smoking ban has meant that many players simply stay away from bingo halls, or if they do go, they head out during the intervals for a quick cigarette. As the intervals were a time when many bingo halls subsidised earnings by selling refreshments, this trend has left a huge dent in takings,” explains Helena Spicer.
“As well as the smoking ban, the Gambling Act of 2005 includes licensing changes that have had a drastic affect on the market. If the industry doesn’t come up with new ideas, British bingo could soon be a thing of the past.”
A new report from Mintel estimates that between 2007 and 2008 alone the bingo market will decline by some 12% to be worth less than £2.5 billion. This is in sharp contrast to the 24% increase seen between 2004 and 2005, the industry’s most recent growth peak.
What is more, over the next year admissions are set to drop 8% as many bingo players choose to stay at home instead. As a result, the Bingo Association further predicts that around 200 bingo halls are likely to close in the near future, with small local ones set to be worst hit.
“The smoking ban has meant that many players simply stay away from bingo halls, or if they do go, they head out during the intervals for a quick cigarette. As the intervals were a time when many bingo halls subsidised earnings by selling refreshments, this trend has left a huge dent in takings,” explains Helena Spicer.
“As well as the smoking ban, the Gambling Act of 2005 includes licensing changes that have had a drastic affect on the market. If the industry doesn’t come up with new ideas, British bingo could soon be a thing of the past.”
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