Buzz Bingo saw group revenue jump 11% year on year (YoY) to £241.4m in 2025 but losses more than doubled after an £18.5m goodwill impairment tied to increases in remote gaming duty in April 2026.
Newly filed accounts at Companies House, covering the 53 weeks to 17 January 2026, show retail revenue at the operator rose 11% YoY to £192.3m with online climbing the same rate to £49.1m.
Like-for-like admissions across the 76-strong club estate reached 4.9 million, up 1%, with new customer numbers up 8% in retail and 30% online.
Management said the results reflected “another strong year of revenue growth”, driven by a “multi-year investment programme to drive growth through enhanced customer experience”.
But despite the revenue increases, underlying EBITDA fell 6% to £39.2m, while the group’s post-tax loss widened to £66.1m, from £31.7m the year prior.
The EBITDA decline was pinned squarely on labour costs. Bosses said growth was “offset by the significant increase in Employer’s National Insurance contributions” and an above-inflation rise in the National Living Wage.
The £18.5m write-down was the single biggest driver of the wider loss. Management noted the charge was “triggered by a revision to forecast cash flows following the impact of the increase in UK remote gaming duty”, which went up from 21% to 40% in April 2026.
Net financial expenses rose to £58m, reflecting the scale of Buzz’s borrowings with controlling party Intermediate Capital Group and Barclays, which extended and increased the group’s facilities by two years in June 2025. Net liabilities widened to £256.5m, from £190.4m.
Speaking on EGR’s Power Seat podcast in August, Buzz Bingo CEO Dominic Mansour revealed his frustration at the government’s decision to hike gaming taxes, particularly in light of falling tax take in other countries that went down the same route.
“With a government whose agenda was flagged as growth, they were making decisions that were negative to growth,” he said.
“So, the net of it was we pulled back on the amount of investment we made into the UK. And it frustrates the hell out of me because we talk about the black market and stuff separately, but it’s how they didn’t look at what was happening in the rest of the world.
“Holland was a perfect example. I mean, you don’t need to be a genius. They increased taxes, they tipped over the other end of what is called the Laffer Curve. And they made less money.”
Check out the full episode here
The post Buzz Bingo revenue up 11% to £241m but tax hit doubles losses to £66m first appeared on EGR Intel.
An £18.5m goodwill impairment tied to April’s remote gaming duty pushes bingo operator deeper into the red despite “strong year of revenue growth” in 2025
The post Buzz Bingo revenue up 11% to £241m but tax hit doubles losses to £66m first appeared on EGR Intel.