Rueters are reporting that Beacon Bingo clubs and Showboat amusement arcades could be on the brink of being sold. Beacon is currently owned by the banks under an appointed CEO Brian Mattingley.

The Rueter’s report suggests that the banks are looking to release the cash they have in the company and have had firm interest from  Praesepe. Praespe is  an established gaming company with high street arcades and are looking to complete a deal worth around £45 million.

Last week Nick Harding CEO of Praesepe stated “We are considering several potential acquisition opportunities, both in the UK and Europe, and the proceeds of this Placing will assist us to continue our acquisitive strategy.” A report in the IBTimes confirmed that the group was in advanced discussions with a private UK company and the potential aqusition would constitute a reverse takeover.