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Cashino gaming centres to launch in Scotland
Cashino, the UK's newest chain of Adult Gaming Centres will soon be open for business in Scotland.
Owners, Praesepe plc have concluded an agreement to purchase four sites, which previously operated under the Silver Reels name, for an undisclosed sum. All of the venues are situated in the Edinburgh area and are currently not trading.
Heralding the acquisition, Jonathon Hughes, managing director of Praesepe's AGC division, said: "We are delighted to have a presence in Edinburgh, a city which the Praesepe team knows well. Our plan is to re-open the site in Nicholson Street, Edinburgh in time for the Christmas trading period, with the remaining three going live in the first quarter of next year."
Praesepe plc, formerly Aldgate Capital plc, was admitted to AIM on 11 April 2006 with a broad strategy to acquire and manage companies and businesses across a variety of gaming sectors. It began its pan-European strategy of creating a leading low stake high volume gaming group in July with the £25m acquisition of 31 AGCs from HJM Caterers.
Praesepe's intention is to create a portfolio incorporating slots, sports / pool betting, bingo and online gaming operations with earnings of £50m by 2010. Key target markets include the UK, Czech Republic, Spain, Italy, Netherlands and Germany.
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