Asking Price
$1,115,000
Gross Revenue
$280,075
Cash Flow
$168,185
Overview
Business
Description
This established and profitable bingo venue makes for a very attractive investment opportunity. Located in West Michigan, this auditorium has been in business continuously for over 40 years and is a mainstay in the community.
There is nothing needed to add to hit the ground running. Currently the hall hosts 9 sessions (games) per week. Bingo is played every day! Many non-profits see bingo as an essential way to raise money for their worthy causes. In addition to live bingo games, there are also pull tabs and concessions.
Growth Prospects
-Currently there are 9 games per week, but the facility is licensed for up to 14 games per week
-There is bingo played every day of the week and twice on Friday and Sunday
-Electronic gaming is under consideration by the State
Sale
Reason for Selling
-Seller wishes to retire
Training/Support
-Seller will train a new owner
-All games are run by the nonprofits, no involvement by the owner(s)
-Concessions are subcontracted out to third party
-Cleaning of the auditorium is performed by a third party
Premises
Facilities
-Auditorium is approximately 8,000 sqft
-Building on the property that is leased out is approx. 1,200 sqft
-Expressway visibility
-Steel construction with kitchen
-Current auditorium built in 2004
Location
Michigan, MI
Contact The Seller
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