New High Street Betting Brand Launched
October 29, 2008 (InfoPowa News) — The U.K. has a new look at High Street betting chain following the unveiling by owners Praesepe plc (formerly Aldgate Capital) of its 'Cashino' brand. The high impact rebranding exercise follows the £25 million acquisition of 31 venues from HJM Caterers in July of this year.
Heralding the rebranding, which has been extended to all 31 centers, Praesepe AGC division MD Jonathon Hughes commented: "It's a very striking, high-impact design which gives us an extremely strong presence on the high street. Cashino is a great name for our brand of low stake, high volume, fun and secure adult gaming."
Expanding on the response to the change in ownership and identity, Praesepe CEO Nick Harding added: "I have been heartened by the response from both customers and our customer-facing staff. The team we have inherited from Jon Shipley is without doubt the best any of us in the senior management team at Praesepe has ever worked with. We are delighted that the Government is reviewing stakes and prizes for Category C machines, which represent the majority of equipment we operate in our centres."
Prasepe has already announced a pan-European strategy to create through acquisition a leading U.K./EU low-stake, high-volume gaming group with earnings of £50m by 2010. It is intended that the portfolio will incorporate slots, sports/pool betting, bingo and online gaming operations with key target markets including the UK, Czech Republic, Spain, Italy, the Netherlands, and Germany.