Six figure deal enables gaming company to acquire bingo hall and grow online presence
A Staffordshire-based gaming company has secured a six figure funding deal to grow its online presence in the gaming industry and expand its portfolio of UK venues by acquiring a new bingo hall in Suffolk.
Real Fun Group has utilised the working capital from leading alternative finance lender Reward Funding to purchase a bingo hall in Lowestoft from MERKUR Bingo.
Led by experienced entrepreneurs Kevin McGinnigle and David Gallimore, Real Fun Group operates 11 traditional bingo clubs across England and Wales and was established in 2023 to acquire and operate leading leisure assets Witnall Automatics and Majestic Bingo.
The recent funding deal follows an initial seven figure facility provided by Reward last year, to enable the acquisition of the Majestic Bingo estate – an initial step in the group’s strategic vision to bring back the fun to the UK bingo experience. This move secured the group with the relevant licenses, allowing it to trade across the eight Bingo venues acquired out of administration in December 2023.
Kevin McGinnigle, founder of Real Fun Group, said: “Reward’s ongoing support has been instrumental in helping us scale quickly and seize strategic market opportunities. From day one, they have taken the time to understand our business, our model, and the potential of the leisure and entertainment market.
“Key to the finance deal being completed was the trust and confidence Real Fun Group has built with Reward as a funding partner. The Lowestoft bingo hall was still trading prior to the acquisition and this established relationship meant that it was in a strong position to act quickly when the opportunity arose and have the finance in place to secure the site and reopen immediately to avoid losing additional revenue.
“After the successful acquisition of the Majestic estate, it made perfect sense to return to Reward for this next phase because we have found a lender we trust and one that has been a true partner in our journey so far.”
Gareth Boardman, client relationship manager for Reward Funding, said: “Real Fun Group is a prime example of the kind of entrepreneurial business we are proud to support. From their first acquisition to this latest deal, Kevin and David have shown a clear vision for the company. As a long-term client, they demonstrate how our tailored approach to funding continues to meet the needs of growing businesses across the UK.”