Profits slump again
23rd November, 2007
Pre-tax profits for Top Ten Holdings have halved to just under £400K between March and September 2007.
The company has 38 bingo clubs over the UK and is said to have been badly affected by the smoking ban which came into effect in July this year.
Other companies have also seen their profits fall, Mecca and Gala have recently posted falling profits in the months since July.
Some bingo clubs have been forced to close and some have halted expansion as a direct effect of the ban.
The cold weather is also expected to reduce profits substantially as many bigo players choose to play in the warmth of ther own homes online, instead of venturing out to their local bingo hall.
Top Ten is among other operators lobbying for rule changes to the VAT and tax they are forced to pay.
