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Buzz Bingo to Restructure Retail Portfolio

Buzz Bingo today announces a proposal to restructure its retail estate through the implementation of a company voluntary arrangement (‘CVA’). This follows a period of productive consultation with Buzz Bingo’s various stakeholders, including its landlords, aimed at securing a sustainable long-term future for the business following the outbreak of Covid-19 and resultant lockdown.
Under the proposed terms of the CVA, while the majority of clubs (91) will continue to trade, 26 clubs will close permanently due to what the company expects will be an unsustainable operating environment for the foreseeable future.
Across the rest of the portfolio, Buzz Bingo has been engaged in constructive dialogue with landlords to better align the rents of certain clubs relative to forecast trading. Regrettably, the proposed CVA will potentially impact 573 of Buzz’s c.3400 colleagues across the business, whom Buzz Bingo is committed to supporting at this difficult time.
The challenges facing businesses at this unprecedented time of lockdown due to COVID-19 are well understood. Like many others in the leisure and entertainment sector, Buzz Bingo was forced to close all its clubs across the UK, which have remained closed since Saturday 21 March. It put immediate measures in place: minimising costs where possible, reducing senior management pay and making use of the Government’s furlough scheme for the vast majority of employees.
Despite this, Buzz Bingo’s daily operations and its ability to generate revenues from its retail club portfolio has been severely impacted.
While Buzz Bingo intends to commence the reopening of its clubs from 6 August, it expects that it will take time for footfall to return to pre Covid-19 levels due to social distancing measures and customer confidence to socialise indoors taking time to rebuild, particularly among Buzz Bingo’s customer group.
The management believe the proposed CVA provides the best possible outcome for all of Buzz Bingo’s stakeholders as it looks to secure a sustainable long-term future for the business and its remaining c.2800 employees.
Buzz Bingo’s owner, Caledonia Investments, has indicated its willingness to provide an additional £22m of equity capital (in addition to the £5m that it invested in Buzz Bingo in May, 2020) once the CVA becomes effective. The new equity capital will be augmented with an additional £10m of debt provided by Buzz Bingo’s existing lender.
Chris Matthews, Chief Executive, Buzz Bingo commented:
“The ongoing pandemic has had far-reaching consequences for the entire leisure and hospitality sector and an immediate and significant impact on our business.
Following a thorough review of our options, the proposed CVA will restructure our retail portfolio to ensure we are well positioned for a return to growth, while adapting to the ongoing, challenging environment as we start to reopen the majority of our clubs.
Our lenders are supporting our plans and our owners, Caledonia will be investing into the new structure to further strengthen our future business.
The restructure will, very sadly, impact a number of our colleagues and my priority is to support all those affected and keep them fully informed as we continue with this process. I would like to thank every single one of our colleagues for their continued understanding and commitment over this period.”
Melanie Leech, Chief Executive, British Property Federation (BPF) comments:
“These situations are never easy, particularly now for the retail, hospitality and leisure businesses on our high streets at the sharp end of the Covid-19 pandemic. Property owners, however, need to take into consideration the impact on their investors, including the millions of people whose savings and pensions are invested in commercial property, as they vote on any CVA proposal.
Buzz Group and AlixPartners engaged with the BPF before launching this CVA proposal. This has provided us an opportunity to improve understanding of property owners’ interests and concerns, but ultimately it will be for individual property owners to decide how they will vote on the CVA.”
Buzz Bingo will seek creditor approval of the CVA Proposal which is due on 3rd August. The online business will continue to trade as usual during this period.
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Amusnet Launches âCash Bombâ: A Powerful New Add-On to The Signature Jackpot Cards

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Amusnet announces the launch of Cash Bomb, a powerful new feature designed to elevate player excitement and support operators gain a competitive edge in the online casino landscape. Integrated seamlessly with the companyâs signature Jackpot Cards, Cash Bomb delivers an additional layer of thrill by offering players the chance to share in rewards whenever a Jackpot Cards Level is won and the winning suit matches a pre-selected Cash Bomb Suit.
âCash Bomb is more than a promotional tool â itâs a player engagement engine,â said Yordan Georgiev, Head of Casino at Amusnet. âBy enhancing the proven success of Jackpot Cards with this dynamic feature, weâre empowering player retention, engagement, and revenue. Itâs a testament to Amusnetâs commitment to delivering innovative, high-quality, and player-centric solutions that drive measurable results for our global network of partners.â
What truly sets Cash Bomb apart is the strong community-driven element and the configurability across a wide variety of Amusnetâs slots powered by the signature Jackpot Cards. This extensive compatibility allows operators to strategically deploy promotions across their portfolio, spotlighting key titles and optimizing performance. When triggered, the feature distributes a generated prize pool among all eligible players â not just the jackpot winners. This shared win model creates a sense of extra thrill and collective reward, driving playersâ engagement and motivation. The prize pot grows continuously until a matching suit detonates the Cash Bomb, providing a progressive incentive that keeps excitement high.
With its flexible setup, seamless integration, and explosive gameplay mechanic, Cash Bomb showcases Amusnetâs commitment to innovation and its ongoing mission to empower partnersâ growth through player-centric solutions. Itâs a strategic tool that elevates player engagement, delivers measurable ROI, and provides a competitive advantage across the diverse casino portfolios of Amusnetâs global client base.
The post Amusnet Launches âCash Bombâ: A Powerful New Add-On to The Signature Jackpot Cards appeared first on European Gaming Industry News.
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PartyPoker is partnering with Genting

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The post PartyPoker is partnering with Genting appeared first on European Gaming Industry News.
eSports
Post Malone to Headline Esports World Cup 2025 Opening Ceremony in Riyadh

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EWC to open with a celebration of gaming culture on July 10, 2025, connecting global fans through the power of music on the worldâs biggest esports stage.
The Esports World Cup Foundation (EWCF) announced that global music icon Post Malone will headline the Opening Ceremony of the Esports World Cup 2025, taking place on July 10, 2025 in Riyadh, Saudi Arabia. Post Maloneâs performance will kick-off a seven-week event that brings together gaming, music, and culture, reflecting the EWCâs role advancing gaming as mainstream entertainment for a digital generation.
A 9x diamond-certified global artist and lifelong gamer, Post Malone has deep roots in the esports and gaming community â streaming Call of Duty: Warzone, PUBG, and Hunt: Showdown on Twitch, and collaborating with developers on in-game events, including a recent crossover with Apex Legends. His exclusive live performance will open EWC 2025, blending chart-topping sound with a celebration of gaming culture on the worldâs premier competitive stage.
âEsports is becoming a global cultural force â where music, storytelling, and competition converge to create moments that are not just seen, but felt,â said Mike McCabe, Chief Operating Officer, of the Esports World Cup Foundation. âWith Post Malone, a global artist and true gamer, opening the tournament, we continue to celebrate the power of music â a universal language that brings fans together and defines the cultural future of esports.â
âThis yearâs Opening Ceremony will deliver a fresh take on the classic story of ambition, resilience and progress, told through the lens of EWC. â added Ariel Horn, Executive Producer of the Esports World Cup Foundation. âItâs exciting and new. So many game genres converging on one global stage, the music fuels the competitive fire at the heart of this event and this industry, and Post Malone is the perfect voice to carry that passion and celebrate the beginning of an historic event.â
This announcement follows the launch of EWC Music, a long-term initiative to create an original music identity for the Esports World Cup and establish music as a core pillar of the fan cultural experience. The programme began on April 27 with the recording of a four-track music suite at the legendary Abbey Road Studios, featuring original compositions by acclaimed music collectives 2WEI and Hollywood Scoring. Through original scores, global artist collaborations, and fan-focused soundtracks, EWC Music is designed to connect global audiences through a shared emotional language that elevates every moment of the competition â from broadcast to live stages. Additional artists, performances, and music-driven collaborations will be revealed in the coming weeks as part of the wider EWC Music program.
The Esports World Cup 2025 will once again unite gaming and esports communities in Riyadh, Saudi Arabia, for a global competition that will crown the next Esports World Cup Champion. The tournamentâs unique cross-game format will reward Clubs and players competing for a life-changing prize pool across a mix of platforms and genres, bringing together esportsâ best teams, players and games under one banner in the largest-ever celebration of esports.
The EWC 2025 will feature 2,000 elite players and 200 Clubs from more than 100 countries, competing in 25 tournaments across 24 games for a record-breaking $70+ million prize pool.
The post Post Malone to Headline Esports World Cup 2025 Opening Ceremony in Riyadh appeared first on European Gaming Industry News.
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