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In 1999, Cronin set up tombola.co.uk, an online bingo operation. The Sunderland-based family has been involved in bingo for about 50 years, but the online business has created a valuable new income stream, with profits soaring to £10.9m on sales of £22m in 2009-10. It is easily worth £70m, and the family has other wealth.
In the 1960s, Phil's father, Frank, took over Edward Thomson which was then a stationery shop. Eventually, the company started creating and printing bingo tickets. And from a shop with just 10 employees, it grew into a successful company with over 700 employees. In fact, it was considered as one of the largest employers for nearly five decades.
Three decades later, Phil decided to join the business, but in 1995, he put up his own company which specialized in selling interactive game cards. Four years later, tombola was established. Since then, the company continued to grow. In fact, it was also launched in Italy, Spain, and the United Kingdom. Phil currently has a net worth of $123 million.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2017 |
Sponsorship |
Sponsorship for the major ITV show I’m A Celebrity… Get Me Out of Here!, its ITV2 spin-off, the app and all content on the ITV Hub |
$2,650,000 |
|
2017 |
Earnings |
Profit from sales for the years 2015-2016 from Tombola, a British online bingo company |
$15,790,000 |
|
2016 |
Earnings |
Operating profit of Tombola, a British online bingo company, for the year 2016 |
$15,360,000 |
|
2016 |
Earnings |
Reported annual turnover of Tombola, a British online bingo company, for the year 2016 |
$78,930,000 |
|
2015 |
Earnings |
Operating profit of Tombola, a British online bingo company, for the year 2015 |
$15,520,000 |
|
2015 |
Earnings |
Reported annual turnover of Tombola, a British online bingo company, for the year 2015 |
$66,060,000 |
|
2014 |
Earnings |
Profit from sales for the years 2012-2013 from Tombola, a British online bingo company |
$11,940,000 |
|
2011 |
Earnings |
Annual revenue of Tombola, a British online bingo company |
$34,490,000 |
|
2005 |
Earnings |
Annual revenue of Tombola, a British online bingo company |
$66,370 |