Sceptre pays out on bid for southern rival

GAMING machines firm Sceptre Leisure is to buy the assets of competitor firm RV Smith (Leisure) Ltd in a deal worth £1.2m.

Sceptre is buying 925 amusement machines based on 277 leisure sites from RV Smith’s owners. The company said that these would be integrated into its existing network and would consolidate its position in the south, where it bought the Australian 8 Ball business last year.

It is paying £800,000 in cash, with the remainder being paid via the issue of more than 1.44m new shares, which RV Smith’s directors have agreed to hold on to for six months.

Preston-based Sceptre said the deal underlines its ability to identify and consolidate selected acquisitions quickly.
 
Ken Turner, CEO of Sceptre Leisure said: “This acquisition further strengthens and consolidates our footprint in southern England. It builds on our national capability and after swift integration with the rest of our network will enable us to improve even further the market leading service we offer our customers.”