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Sale of gaming firm Danoptra secures finance
YORKSHIRE gaming firm Danoptra has been sold in an £85m refinancing deal.
The new owners, a group of city institutions led by Credit Suisse Group, will gain a majority stake in the loss-making firm in return for 85m of new loan facilities.
The Leeds-based business – parent company of the Gamestec Leisure and Bell-Fruit Group – supplies and operates around 40,000 gaming machines in bars, leisure venues, betting offices, clubs, bingo halls and casinos across the UK.
Its other arm, Leisure Connection, runs sports and leisure facilities for local authorities.
Last year the firm showed almost 20m of losses but yesterday it said the new financing would support its future growth and strengthen the group's balance sheet.
Derek Lloyd, group chief executive of Danoptra, said: "The refinancing of Danoptra has attracted investment from a group of blue-chip investment institutions all of whom share our vision for the continued growth of Danoptra."
The company has come under new management in the past two years. It made a loss of 19.904m in the 12 months to September 30, 2007, on turnover of 195m but made operating profits of 10m.
Danoptra was formerly known as Kunick.
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Wednesday 23 May 2012
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