Bingo Groups Delighted by Sutcliffe Move
June 28, 2008 · Tagged: Bingo, Bingo Clubs, Online Bingo
I suppose that even though the announcement to increase the number of lucrative, high paying slots in bingo halls was announced yesterday, it is going to be active in the media for some time to come. It is also bound to raise some controversy and different opinions from different sectors. But all that being said the big bingo groups are delighted by this decision. It allows them to double the amount of these machines in their bingo venues and hopefully lift some of the economic burden from their shoulders.
It must be said that Mr. Sutcliffe is erring on the side of caution still with regards to concerns about greater risk of gambling addiction, and he is waiting on a report that is expected from the Gambling Commission next month regarding slots machines. However since 2007, thirty seven bingo clubs had shut down and this amounts to 6% of the total industry, which might seem quite alarming.
Bingo companies like Rank (Mecca) and Coral (Gala) rely on these machines to generate income between bingo games, but when the amount they were allowed was reduced, together with the impact of the smoking ban, business became pretty bad for them, and many regular players just stopped attending clubs. One might easily then see why online bingo has experienced such a rapid growth phase in the UK.
There have been many concerns expressed by MP’s who fear that the ongoing loss of UK land based bingo clubs will have a huge social impact on many older and retired women, particularly in the Labour heartlands who depend on bingo as their only leisure activity outside of home.
Just as a PS. Something is definitely going down in the Rank Group (Mecca Bingo), excuse the pun, their shares actually dropped in price on Wednesday.
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