BETFRED ACQUIRES BUCKINGHAM BINGO ONLINE OPERATION

Posted 3/22/11 : BuckyBingo and BOGOFBingo bought for an undisclosed sum
 
UK-based sports betting firm Betfred announced the acquisition of online bingo brand BuckyBingo.com and sister brand BOGOFBingo.com for an undisclosed consideration this week.
 
BuckyBingo uses Virtue Fusion software licensed in Alderney and will bring to three the number of online bingo sites owned by Betfred, including Betfredbingo.com.
 
John Haddock, managing director of Betfred said: "This is a great acquisition for Betfred.com of a leading brand in the Bingo market. Our intention is to continue with the Bucky brand and it will be business as usual.  What I can say is that there will be plenty of investment that will give our customers a fantastic experience in the future."
 
The online bingo sites were previously part of the Manchester-based Buckingham Bingo hall chain which was broken up and sold in deals totaling nearly GBP 20 million.  The company's land clubs have been acquired by existing bingo operators Club3000 and Castle Leisure.
 
KPMG's gaming specialists advised Buckingham Bingo on the sale of the online operation. 
 
Neil Meredith, KPMG Corporate Finance partner commented on the sale:  "BuckyBingo.com and BOGOFBingo.com provide an established and highly regarded online bingo offering that is well positioned to enter its next phase of growth under the new ownership of Betfred.com."