UK operator Sceptre Leisure has sold its fixed odds betting terminal rental business to Global Draw for a total cash consideration of £3.75m.
The FOBT rental business comprises 751 terminals and associated customer contracts, with a net book value of £2.8m.
The full amount of the consideration was paid in cash on completion and generated a one-off profit on disposal of £0.9m, which will be recognised in the Group’s 2010 annual results. The profit tax attributable to the assets being sold was £0.3m over the past 12 months.
Ken Turner, chief executive of Sceptre Leisure, commented: "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."
