Top Ten Holding Plc acquired Apollo Bingo for £11.1 million and Bravo Bingo for £1.8 million

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Top Ten Holding Plc acquired Apollo Bingo for £11.1 million and Bravo Bingo for £1.8 million 2016-02-26T13:08:50+00:00

Project Description

Top Ten Holding Plc acquired Apollo Bingo for £11.1 million and Bravo Bingo for £1.8 million

HMT advised Top Ten Holdings plc, the UK’s third largest and only listed UK bingo operator, on the acquisition of Apollo Bingo and Bravo Bingo clubs.

Apollo operates 3 bingo clubs at Rhyl, Blackpool and Caernarfon and Bravo operates a further three club in Leicester, Worksop and Blackwood. Since 2002 Top Ten has grown from 11 to 44 bingo clubs.

Led by partner Andrew Thomson and assisted by senior manager Dave Cutts and director Simon Jordan, HMT acted as financial advisors and undertook financial due diligence.

Andrew Thomson of HMT commented:

“These acquisitions represent another important step in achieving a larger group from which Top Ten will be able to increase cashflow and profit. We are delighted to continue to be involved in helping Top Ten deliver its successful acquisition strategy.”