Bingo (BIN) take a hit in 1H21 – stock down ~2% to $3.13

First half 21 saw COVID impacts continue for Bingo, though the company noted the rebound is clearly underway. NPAT was down 32% to $19.6m with discounting continuing across the board. Utilisation is picking up though, back to around 75% of pre-pandemic levels as Bingo builds into the second half.

For the most part, the numbers are as expected. It is under a takeover bid at the moment, with the indicative price $3.50/share. There was little in the way of update from either side at the result other than to say due-diligence is well-progressed.