In September 1984, the national bingo hall and social club Top Flight Leisure Ltd acquired the Tivoli. The new proprietors announced their intention to retain local staff and to upgrade the theatre.

By March 1985, action was afoot. The Managing Director of Top Flight Leisure announced that "Restoration of the roof and front of house are currently in the hands of our architect, and it looks as if renovations will restore the original décor and a major part of the stage facilities. A below stage bar and seating area is also visualised. We have in mind a probable additional use of the building for some live theatre, old time Music Hall, in two years time". All these grandiose plans did not however fully materialise. Bingo continued to be played at the Tivoli until the announcement of closure was made in January 1997.

The Tivoli Theatre Trust was set up in 1999 following a meeting attended by representatives of the major music, theatre and arts companies currently operating in Aberdeen.

In 2000 the Tivoli was purchased as an investment by Mr Tony Donald, an Aberdeen businessman. Efforts by the Tivoli Theatre Trust to reach an agreement with Mr Donald to purchase the building have so far been of no avail.