Buzz Bingo has reported 47% year-on-year growth in business at its bingo club in its first trading season since the pandemic.

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This increase is attributed to the UK bingo operator's recovery from the Covid crisis, the growth of its online business and the interest of a growing demographic. However, the company's overall position was damaged by price restructuring, resulting in annual losses.

Buzz Bingo's campaign plan includes plans to introduce bingo to a younger audience, with half of new customers aged 18 to 35. Buzz Bingo's online revenue also showed growth, with an 8% increase over last year. This increase follows a review of efforts to attract recreational customers and improve player safety, in line with recommendations made in the government's white paper on gambling. Recent business figures show that Internet growth is expected to increase rapidly, with revenues up 30% from last year.

Despite the increase in gross profit, which reached £137 million ($167) on revenue of £195 million, Buzz Bingo posted a loss of £53 million after tax. The loss was less than the £52 loss announced 12 months ago, and was affected by restructuring costs and other unpaid expenses, including insolvency charges.

By the end of 2022, the company has restructured its headquarters to reduce costs. In addition, at the beginning of 2023, nine points of sale are closed. The company also launched an energy reduction program, leading to a 30% reduction in energy consumption. Dominic Mansour, CEO of Buzz Bingo Group, acknowledged the challenges posed by inflation and rising costs, and stressed that the company's commitment to cash management to secure its long-term future.

The company has invested in improving player protection, implementing measures such as cash checks and maximum limits on online slots of £10.