Bingo Halls Sold
3rd April, 2008
It has been reported that the new sale of two bingo clubs have happened with the Bingo Hall operator, Carlton Clubs selling one hall in Edinburgh and another in Grangemouth.
The combined total for both clubs came to be £1.35 million.
The Destiny Church bought the Tivoli Bingo Hall at Gorgie Road in Edinburgh for £900,000. Partially the financing for the purchase by the Destiny Church came from selling its own bingo hall in Station Road in Grangemouth to Cabri for £450,000.
A surveyor with Jones Lang LaSalle, who worked for Carlton clubs, Simon Bashford, expressed his thought about the reasoning behind the Edinburgh sell: "The Edinburgh deal reflects the fact that modern day automated bingo now require more contemporary premises."
It is nevertheless also logical to assume that the sell comes as a result of a tough situation on the bingo market. Bingo halls have been suffering since the tougher regulations came into place, firstly by the smoking ban, that seriously damaged the number of people coming to play bingo to halls, and then by the double taxation, which cut into profits further.
By Elena
