Sceptre makes debut amid market turmoil

LANCASHIRE’s latest addition to the stock exchange made its debut following one of the worst one-day falls in the value of the UK’s top blue chip shares.

As shares went into freefall on Monday shareholders at gaming business Gamingking voted in favour of a reverse takeover by Orb Holdings, parent of Sceptre Leisure.

It floated on the Alternative Investment Market yesterday. Shares are trading at around 37p.

Gamingking is one of the larger suppliers of lottery, fundraising and gameplay products to the UK’s registered members clubs and Orb is the second largest operator of amusement machines in the licensed retail sector, in the UK.

The combined group is aiming to capitalise on expansion and cross-selling opportunities in each others’ markets as well as benefiting from economies of scale and critical mass.

Sceptre Leisure chief executive, Ken Turner, said: “The combination of Gamingking and Orb provides a greater opportunity for each business. Using Sceptre’s relationships we anticipate the roll out of both lottery and bingo products into the pub industry.”

He said Gamingking’s Lotteryking brand will enable the group to penetrate social clubs throughout the UK.