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Praesepe unveils bid for bingo operator

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Bingo hall operator Beacon Entertainment is set to be acquired by Praesepe after the gaming group announced that it had secured a conditional agreement.

Praesepe - which currently owns 54 sites across the UK - is set to pay around £5m for a maximum of nearly 67 million for Beacon, as well as assuming £40m worth of existing bank debt. In October 2009, the AIM-listed group completed its third acquisition in four months with the £6.3m purchase of nine adult gaming centres and four family entertainment centres from Case Concepts.

PricewaterhouseCoopers advised Beacon Entertainment as part of the deal, which is currently under the ownership of a consortium of UK banks.
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Bingo hall operator Beacon Entertainment is set to be acquired by Praesepe after the gaming group announced that it had secured a conditional agreement.
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