Top Ten Bingo faces major £30 million debt

Top Ten Bingo represents one of the most high profile brands in the UK land based bingo industry with a total of 40 halls to its name. Now the company is facing financial difficulties following VAT complications which resulted in the closure of 16 of its venues. The land based bingo industry has been hit hard in recent years with many companies struggling to keep their heads above water. The introduction of a new tax regime coupled with the smoking ban and a devastating financial crisis have left many firms in real difficulty.

Top Ten Bingo has now posted a loss for the third year in a row. Figures for the year ending March 28, 2025 reveal a significant drop in turnover which plummeted from £25.6 million to £20.7 million. Top Ten Bingo chairman, Graham Kerr, revealed that the company only received £3 million from Revenue and Customs in VAT repayments despite being actually owed the sum of £20 million. Although 24 Top Ten Bingo halls still remain open, the firm has total debts of £30 million – a burden which could prove too much to bear in forthcoming months.

Rank and Gala, two other major names in the bingo hall industry, have fared rather better. Much of their success is down to the development of parallel online bingo sites which enjoy a more forgiving system of taxation. With other names such as Buckingham Bingo also reporting serious financial difficulties, it is feared that the fate of Top Ten Bingo could mark the beginning of the end for the much loved land based halls.