As we stated about a week ago, bingo paper prices have increased at the manufacturing level and are now increasing at the distributor level. Blue Bay South, Michigan's leading bingo provider of bingo supplies to licensed bingos, has officially announced a price increase.
Some excerpts from their news release:
"Earlier this year, all of the major bingo paper manufacturers (Arrow, Bingo King, & American Games) raised their prices significantly to us and to every other distributor. Unfortunately, this was inevitable. Commodity prices for Canadian pulp (the key ingredient in bingo paper) have risen over 50%. This increase is compounded by the devaluation in the U.S. dollar. Further, diesel prices continue to climb, and bingo paper is a heavy product that is expensive to ship. These things have created a recipe for upward pricing.
It has been several years and many manufacturer price increases since we last raised our paper prices. We’ve dealt with the same higher freight and gas costs that the manufacturers’ have, but on top of this, our Michigan small business tax has quadrupled. And, while we are absorbing much of these cost increases, we simply cannot absorb them all. Therefore, we are sorry to inform you that effective May 10, 2008, we will be forced to increase our bingo paper prices."
Hopefully, this will be the last of bingo paper price increases for some time.
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