Free Online Tango Bingo House of Joy

Hermes to Acquire Beacon Bingo from Thomas Holdings

Hermes' Private Equity arm, which is an investment fund group, is now the frontrunner in the bid to takeover the U.K. based Beacon Bingo Parlour Chain.

The fund management company, which has edged out other serious contenders in the bid for Beacon Bingo, such as the Australian Investment bank Macquarie, which has previously attempted the acquisition of the London Stock Exchange earlier this year and is said to be the leading candidate in the bid for Beacon Bingo Chain Parlor, not a long time ago and Barclays Private Equity, another fund management group like Hermes. Hermes is currently holding private one-on-one talks with Thomas Holdings, the parent company of Beacon Bingo.

Thomas Holdings has reportedly agreed to sell the bingo chain for approximately 80 million UK Pounds (equivalent to $150 million dollars).

The sale of Beacon Bingo, if an agreement comes through, should be finished within a month. Hermes' Private Equity is not a stranger to the gaming industry since it recently acquired another British based bingo chain, Mayfair Bingo just earlier this year.

Beacon Bingo currently owns three bingo parlors scattered all over the United Kingdom, in Loughborough,Northampton and Cricklewood.

Offers By

Articles worth your time

Delaware Officials Implement No-Smoking Policy in Bingo Halls and Restaurants

The main supporters of the smoking ban have finally succeeded in ensuring that the air in Delaware County will be clear from now on. The smoking ban will be implemented in businesses of the area, such as bingo halls and restaurants.

Mecca Bingo Halls Hit Hard by the Smoking Ban in Scotland

On December 7, 2006, the leisure and gaming group, Rank, offered further evidence that their Mecca Bingo Halls are suffering from the effects of the smoking ban. In turn, this has affected Rank's overall performance and profits.