Clarke Osborne, chief executive of Gaming International, has announced that the £14.2m management buyout of the company by TokLon has now been completed.

Gaming International operates four UK greyhound racetracks under the Stadia UK brand – at Swindon, Milton Keynes, Reading and Poole – as well as owning various property interests and a Pachinko Gaming business in Japan.

Osborne said: “I believe this deal marks the start of a new era for the company. We now have some great opportunities and challenges for the future, not least of which is the UK Gambling Bill.

"We are undertaking a review of the business with our management team with a target of improving our offering to our customers and harnessing the benefits of being a private company.

“Our initial concentration will be on our greyhound stadia in the UK."

Finance director Steve Haywood and non-executive director Graham Parr were the other members of the management buyout team. Parr will now take on the role of chair.