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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.
Dale Earnhardt Jr.
NASCAR Hall of Famer Dale Earnhardt Jr. Teams with Hard Rock International as Brand Ambassador

Hard Rock International has welcomed NASCAR Hall of Famer Dale Earnhardt Jr. as a brand ambassador to its roster of legendary athlete partners. This exciting partnership will bring exclusive collaborations and limited-time offers to NASCAR fans while they watch and revel in the 2025 season.
“Hard Rock is such a historic and iconic brand. I have always been a huge fan of music, so the vibes and attention to detail that Hard Rock puts into its locations is incredible to me. They have something for everyone – music, food, drinks, casino games and sports betting. I’m excited to partner with them and the opportunities we have to do some really fun things together,” said Earnhardt Jr.
“As a leader consistently delivering entertaining experiences across live music, gaming and sports to guests, Hard Rock is honored to have Dale Earnhardt Jr. as part of our team. Together we will celebrate the spirit of car racing at our properties across the globe through exciting new menu items, apparel and more,” said Keith Sheldon, President of Entertainment and Brand at Hard Rock International and Seminole Gaming.
Through the partnership, NASCAR fans will have the opportunity to engage with Earnhardt via Hard Rock Bet, which has already hosted a sweepstakes at Daytona International Speedway and will offer additional “money can’t buy” experiences for its players to meet the Hall of Fame driver. Fans can also follow along with Earnhardt’s sports betting picks on the top-rated Hard Rock Bet app and view exclusive video content on @HardRockBet channels.
Additionally, later this spring, Hard Rock Games will debut the free-to-play Full Throttle with Dale Earnhardt Jr. slot game on the Hard Rock Neverland Casino and Jackpot Planet apps. This high-octane game will put players in the driver’s seat, with their race car gaining speed with each win, delivering an adrenaline-fueled slot experience like no other.
Dale Earnhardt Jr. is an American professional stock car racing driver, champion team owner, businessman, NASCAR analyst, and 2022 inductee into the NASCAR Hall of Fame. He won a record 15 straight NASCAR Most Popular Driver awards from 2003 to 2017, consecutive NASCAR Busch Series Championships in 1998 and 1999 and the prestigious Daytona 500 in 2004 and 2014.
The post NASCAR Hall of Famer Dale Earnhardt Jr. Teams with Hard Rock International as Brand Ambassador appeared first on Gaming and Gambling Industry in the Americas.
Ernie Stevens Jr
Ernie Stevens Jr. Re-elected as Chairman of Indian Gaming Association

Ernie Stevens Jr. has been re-elected for his 13th term as Chairman of the Indian Gaming Association (IGA). Running unopposed, he received unanimous support from tribal leadership, reinforcing their confidence in his leadership.
Stevens said: “From day one of my Chairmanship, my commitment has been unwavering – my work is my campaign, always inspired and guided by our tribal leadership. For 24 years, I have remained steadfast, and I will not unpack my bags for the next two years either. Together, we will vigorously advance our proactive agenda and stand ready to unite Indian Country to defend tribal sovereignty at all costs. I promised each of you that I would dedicate myself fully – morning, noon, and night – to champion our interests in tribal government gaming. I am honored to be your messenger, amplifying the voices of our elected tribal officials, and I will carry your message with pride and purpose.”
During his tenure, Indian gaming revenues have soared from $11 billion in 2000 to over $49.1 billion in 2024, solidifying tribal government gaming as the largest segment of the gaming industry in the US.
The post Ernie Stevens Jr. Re-elected as Chairman of Indian Gaming Association appeared first on Gaming and Gambling Industry in the Americas.
Compliance Updates
BGC Represents Betting and Gaming Sector at Shadow DCMS Roundtable

Standards body the Betting and Gaming Council (BGC) has represented the regulated betting and gaming sector at a shadow DCMS roundtable held on Tuesday.
The roundtable, titled: Future of the Gambling Industry in the United Kingdom, drew industry leaders together to explore key issues including responsible gambling, regulatory developments and the future of the sector.
CEO Grainne Hurst represented the BGC at the summit, hosted by Shadow Secretary of State for Culture, Media and Sport Stuart Andrew MP and Shadow Minister for Gambling Louie French MP inside the House of Common’s Shadow Cabinet Room.
BGC CEO Grainne Hurst said: “It was fantastic to sit down alongside our members and other stakeholders from across our diverse sector to thrash out the challenges and opportunities facing the sector today with the shadow DCMS team.
“We are incredibly fortunate to have Stuart Andrew and Louie French, two dedicated MPs who understand this industry, and are keen to ensure the Opposition are completely across the key pressures facing our members, their millions of customers, and thousands of employees.
“Collaboration is key for the BGC, and we welcome this positive engagement with the shadow DCMS team.”
The roundtable also focussed on balancing economic growth with consumer protections and social responsibility.
Following welcome remarks, the summit heard industry’s perspectives on current challenges and future opportunities plus ways in which the Opposition can support future policy.
Grainne attended alongside representatives from BGC members, Flutter, Entain, Evoke, bet365, Bally’s, The Rank Group, Star Sports and the Hippodrome Casino, plus the UK Tote Group, National Lottery, BACTA and the Gambling Business Group.
BGC members support 109,000 jobs, generate £6.8bn for the economy while raising £4bn in taxes.
They also help fund horseracing to the tune of £350m a year through sponsorship, media rights and the levy, provide £40m for the English Football League and its clubs and millions more for rugby league, darts and snooker.
Each month in Britain around 22.5m adults have a bet and the most recent NHS Health Survey for England estimated that 0.4% of the adult population are problem gamblers.
The post BGC Represents Betting and Gaming Sector at Shadow DCMS Roundtable appeared first on European Gaming Industry News.
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