Top Ten set to acquire Apollo Bingo for £11m
Bingo operator Top Ten Holdings is to acquire Apollo Bingo for £11.1m.
Apollo consists of three freehold bingo clubs in Rhyl, Blackpool and Caernarfon with approximately 300,000 admissions per year.
The acquisition takes the Top Ten Holdings portfolio to a total of 41 sites.
The company intends to raise £3.26m for the deal through the placing of 3.9 million New Ordinary Shares at 85p each.
The rest of the deal will be funded through bank debt. Top Ten’s chair, Sir Aubrey Brocklebank, said the company plans further growth and is still seeking ‘suitable opportunities’.
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