I doubt if many people follow Inspired Gaming Group (UK) as closely as we do. Earlier this year in May we wrote ‘Socialite – Clear Channel Outdoor’s Pub and Bar Network!‘ and said…
Two months ago we made mention that we were adding (INGG.L) Inspired Gaming Group PLC to our ‘watch list’ following the UK’s Alternative Investment Market (AIM) …
… Clear Channel Outdoor, has just announced a partnership with them to install a nationwide network of premium digital screens in pubs and bars!
Well unfortunately it has been tricky times for yet another AIM listed company and INGG have lurched from one crisis to another – what is it with the management of these AIM listed companies, Ed
In July Danoptra Limited, one of the UK’s leading gaming manufacturer and gaming machine operator (and a leading operator of leisure facilities) announced the acquisition of Inspired Gaming Group’s pub business assets…
The Group is confident in the future prospects for the acquired assets, which include approximately 30,000 gaming machines that are installed in pubs and other outlets throughout the UK. These machines will be an important part of the Group’s future development plans. The assets include over 8,000 digital machines, employing Inspired Gaming’s SBG technology, which provides operators with the opportunity to more effectively deploy gaming content, fix issues remotely and optimise overall revenue. The Group aims to begin the immediate roll out of further digital machines on the back of this increased capability.
Danoptra has a strong track record of turning businesses around in this sector (it had already done similar with the Group’s existing Gamestec business) but we would guess that there were a lot of worried faces at Clear Channel who had made a risky bet on this particular partnering strategy.
Anyway, it looks like it may have all turned out for the best. The Danoptra deal was cleared by the UK’s Office of Fair Trading last week and Danoptra now will take on approximately 850 staff from INGG and continue with the Socialite rollout.
The interesting thing about this, which is really positive for Clear Channel is that Danoptra have twice the pub real estate that INGG had – if Clear Channel are serious about Socialite and there is no reason to think they would not be then this (rescue) acquisition is ACTUALLY rather good news for them.
The Pub and Tavern division of the group was placed up for acquisition following re-structuring of the group’s core business. It was revealed in July that pub and tavern specialist operation Danoptra (Gamestec) was to acquire the Inspired group. The acquisition however will not see the depot operation of the group rolled into the deal, and though over 800 jobs have been reported as being saved by the deal, it is expected that there will still be a number of layoffs resulting.
The deal will involve over 30,000 machines making Gamestec the largest operator with over 70,000 units. Though Inspired expects to close a number of service depots, over 800 staff will transfer to Gamestec’s offices.