Sceptre Leisure sells rental business for £3.75m

SCEPTRE Leisure, the AIM-listed gaming group, has sold its Fixed Odds Betting Terminal rental business to Global Draw for £3.75m.

The Preston-based supplier of fruit machines and other gaming products to the leisure sector has made a profit of £900,000 from the sale.

The Fixed Odds Betting Terminal (FOBT) rental business comprises 751 terminals and associated customer contracts, and has a net book value of £2.8m.

FOBT had a profit before tax of £300,000 for the past twelve months.

Sceptre’s revenues in the six months to the end of October had risen from £17.9m to £21.2m, while profits jumped from £200,000 to £900,000. Current trading continues in line with the board’s expectations, it said.

Ken Turner, chief executive of Sceptre Leisure, said: “This sale of a non-core part of our business is at a significant profit.

“Its disposal frees up considerable capital and resources across the business to focus on the roll-out of machines to our traditional markets in pubs and other leisure outlets where we continue to see strong demand.”