One of the UK’s largest suppliers of lottery, fundraising and gameplay products to members clubs has bought an operator of amusement machines.
One of the UK’s largest suppliers of lottery, fundraising and gameplay products to members clubs has bought an operator of amusement machines.
GamingKing Plc will now be able to sell its products to 6,500 pubs after buying Orb in a reverse takeover.
The acquirer targeted Orb following the introduction of new legislation that allows the industry to operate in pubs.
This will not be GamingKing’s last deal as its directors are continuing to look at expanding its operations organically and through acquisition. Orb has returned to AIM under the Sceptre Leisure brand.
GamingKing was advised by Kevin Byrne, a partner at Clarkslegal, while the vendors received legal services from Napthens.
Clarkslegal’s team included Charles Crosthwaite and Ashan Arif as well as specialists in its employment and property departments.
Byrne described the deal as “transforming” for GamingKing. “In this difficult market it was pleasing to see the deal progress to completion,” he added.
Napthens, led by partner and head of corporate Andrew Clare, was approached to work on the deal due to the relationship between its chief executive and Orb’s managing director, Ken Turner.
“The deal was interesting in that the company has achieved a successful AIM listing in an entertainment industry currently experiencing tough times,” Clare said.
Gamingking, which was established in 1993, supplies some 5,000 gaming machines to 3,500 private members’ and working men’s clubs.