Real Fun Group Ltd acquires eight clubs from Majestic Bingo Limited, safeguarding 140 jobs

Thursday 21 December 2023 Real Fun Group Ltd is set to become a prominent player in the UK's independent bingo sector following the successful acquisition of eight bingo clubs and their freeholds from Majestic Bingo Limited out of administration.

This strategic acquisition expands the group's portfolio to a total of 10 bingo clubs throughout England and Wales, further establishing its presence in the industry, whilst safeguarding the employment of over 140 individuals.

Experienced entrepreneurs backing the group, which already operates two independent bingo clubs, have reinforced their commitment to growth and community engagement through this significant expansion.

Majestic Bingo Limited entered administration on 7 July 2023, overseen by Tim Bateson and Chris Pole from Interpath Advisory as joint administrators.

Tim Bateson, director at Interpath Advisory and joint administrator, said: “Having been appointed in July 2023 and traded the business for nearly six months, we are absolutely delighted to have achieved this going concern sale, which not only will see all eight venues continue to trade, but which also both safeguards the employment of 140 people and ensures continuity for the communities which these clubs serve. We would like to extend our thanks to the many stakeholders who have provided support to the administration team since our appointment, including customers, suppliers and Majestic’s dedicated staff. Their support has enabled us to conclude this transaction which will enable the business to continue under new ownership.” 

Kevin McGinnigle, CEO of Real Fun Group, shared his enthusiasm for the new venture, stating: "I'm incredibly excited by this opportunity. This was a well-run business that was hit with devastating luck over the last few years, and I can't wait to work with the team. To sit here today, knowing we’re able to keep so many people in work is an unbelievable feeling." 

He further added, "Undoubtedly there is a lot of work ahead of us and I’m confident we’ve got the right people within the business to make this a huge success for everyone concerned. Coming from a family of bingo players, I’m aware of the role that local bingo clubs play in their community and to get the opportunity to keep these historic clubs open for our customers is just fantastic."

With this acquisition, Real Fun Group now employs nearly 200 staff across 10 bingo clubs nationwide, positioning itself as one of the UK's largest independent bingo operators.

Shoosmiths’ Corporate Restructuring & Advisory Team acted for Real Fun Group. Sarah Teal, Partner, commented: “It was an absolute pleasure to have supported Real Fun Group with this acquisition, securing the future of these bingo clubs that are integral to the communities in which they operate and securing jobs in time for Christmas.”  

Stuart Taylor, Partner in the Restructuring & Insolvency Team at Harrison Clark Rickerbys acting for the Joint Administrators commented: “It was great to work with the Joint Administrators on the sale of Majestic Bingo, a deal that safeguards a number of jobs and ensures continuity of local businesses.”