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Beacon Entertainment Bought Out By Praesepe Plc

Beacon Bingo as you are probably already aware is part of Beacon Entertainment, and Beacon Entertainment has recently been sold to Praesepe Plc for £5 million.  This deal is to include all 6 of Beacon Bingo land based bingo halls, their new online bingo site, the Beacon Entertainments £40 million debt and also all 26 of their Showboat amusement arcades.

Beacon Entertainment was originally owned by the Thomas family and was acquired in August 2006 by Mayfair Acquisition Limited who has now sold it on to Praesepe at a loss.  Beacon Entertainment will be the fourth business that Praesepe has acquired over the years and if all goes well will bring their portfolio to 86 venues throughout the UK.

Beacon Bingo

It has also been announced that Brian Mattingly who was the Executive Chairman of Beacon Entertainment will join the Praesepe board due to his extensive knowledge and expertise in the gaming industry.  Mr Mattingly has previously worked with some of the biggest names in the gaming industry including 888 Holdings, Gala Coral group and Ritz Bingo.

The CEO of Praesepe Nick Harding has been quoted as saying of the deal “We are acquiring a well run business with strong market presence in both AGCs and bingo clubs including the Beacon club in Cricklewood, widely regarded as one of the most prestigious in the UK”

Mr Harding also said “UK bingo has a market value of £1.7 billion and the management team, which will be bolstered by the additional of Brian Mattingly, [sic] has some very exciting ideas and initiatives to build on and enhance its reputation as a superb entertainment proposition”.

Don’t worry if you are an existing player at Beacon Bingo club or online bingo site, as the new ownership can only bring further new and exciting developments and enhancements for Beacon Bingo players.

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