Bingo halls have the potential to make a comeback
22nd June, 2009
Bingo halls have been struggling to overcome continuous obstacles that they have been presented with. The problems all began with the smoking ban, followed by numerous other factors and now more dominantly their biggest problem has been the recession. It has hit them hard causing operating profits to fall by 40% and admissions now down by 20%. In addition, with an estimated 90 Bingo halls already shut down, the change in the bingo duty structure announced by the government will lead to the cost of up to £33 million meaning the closure of even more halls.
However, despite the difficulties Bingo halls have been faced with, it is not all bad news for the bingo industry. Online Bingo is booming and now said to account for 20% of the Bingo market. Although this is fantastic for some company’s profit margins, there are now concerns in this area too because of the high rate of competition, with it still steadily growing. An increasing number of Bingo suppliers are turning to online and with a higher number of players turning from the halls to their computers, there is even more competition to win over customer loyalty and first time players.
Bingo halls rely on admissions as the more people playing the bigger the cash prize on offer is, therefore it is essential that Bingo halls concentrate heavily on effective marketing and essentially creating value for the customer. This is not the first time that Bingo halls have suffered, but after their struggle to compete with the introduction of the national lottery, they worked hard and put their confidence and hope into their product and were able to hold their place within the gambling industry. The same mindset and tactics alongside carefully set objectives such as focusing on increasing admissions will ensure they fight back with considerable success.
By Gina
