Interpath Advisory completes Majestic Bingo sale

The joint administrators of Majestic Bingo Limited have completed a sale of the business and assets of the company to Real Fun Group Ltd.

The transaction safeguards the future of Majestic Bingo’s eight bingo halls and the jobs of 140 employees who have transferred to the purchaser as part of the deal.

Tim Bateson and Chris Pole from Interpath Advisory were appointed joint administrators to Majestic Bingo Limited on 7 July 2023. Following their appointment, the joint administrators traded the business and all eight venues as a going concern while they explored options for the sale of the business and its assets.

Bateson said: “Having been appointed in July 2023 and traded the business for nearly six months, we are absolutely delighted to have achieved this going concern sale, which not only will see all eight venues continue to trade, but which also both safeguards the employment of 140 people and ensures continuity for the communities which these clubs serve.

“We would like to extend our thanks to the many stakeholders who have provided support to the administration team since our appointment, including customers, suppliers and Majestic’s dedicated staff. Their support has enabled us to conclude this transaction which will enable the business to continue under new ownership.”

Kevin McGinnigle, CEO of Real Fun Group, said: “I’m incredibly excited by this opportunity. This was a well-run business that was hit with devastating luck over the last few years, and I can’t wait to work with the team. To sit here today, knowing we’re able to keep so many people at work is an unbelievable feeling.

“Undoubtedly there is a lot of work ahead of us and I’m confident we’ve got the right people within the business to make this a huge success for everyone concerned. Coming from a family of bingo players, I’m aware of the role that local bingo clubs play in their community and to get the opportunity to keep these historic clubs open for our customers is just fantastic.”