Hijingo!, a bingo concept developed by Adam Breeden, founder of Social Entertainment Ventures (SEV) and Rebel Bingo creator James Gordon, is to launch in the UK.
SEV, which also oversees the Bounce and Puttshack formats, said the new bingo concept would “infuse technology and traditional number play to unlock a ground-breaking twist on bingo like never before, shaking up Britain’s socialising scene once again.”
The company plans to launch three Hijingo! venues within the first 12 months of trading across major UK cities, including London. Breeden said he plans to open 20 sites under the concept over a five-year expansion period.
Hijingo! said it plans to turn bingo “on its head and create a euphoric, intense and engaging hotspot for millennials and tastemakers”.
Breeden said: “Hijingo! is set to be the most thrilling and revolutionary bingo experience imaginable. It’s hugely exciting to be partnering with James given his vast experience running high entertainment bingo events through Vegas and around the world. We have substantial plans to own this pioneering form of bingo for the new generation.”
Gordon said: “Hijingo! is the culmination of my ten years of research, development and operation in the world of bingo, working with my own brands across the globe, as well as leading British bingo brands. I couldn’t have dreamed of a better partner to collaborate with than Adam and the Social Entertainment Ventures team - Hijingo! is going to completely supercharge the billion-dollar British bingo market.”
At the same time, Breeden said the company was now fielding investor interest on a regular basis.
He told The Press Association: “We’re constantly being approached by people who want to invest in the business. We are running a fundraise in Social Entertainment Ventures towards the end of the year, so that will be probably be an institutional raise but it could be an ultra high net worth as well – we just have various options.”
SEV’s growth is also putting it on track for an initial public offering (IPO) within the next few years.
He said: “Our plan is to own the whole social entertainment, competitive socialising space in the UK and the US, and that is our strategic plan with a view to float on the US stock market in four to five years. It could be UK but we see the predominant size of our growth happening the US … we are running both options at the moment.”
Earlier this year, Breeden told MCA that he was aiming for 75 sites across his Bounce, Flight Club USA and Puttshack brands within the next five years. The first Puttshack – a next-generation mini-golf, bar and restaurant concept – will open its first site in Westfield London in June.