Praesepe mulls Beacon purchase

Beacon, the operator of some of the biggest bingo clubs in the UK, is on the verge of being sold to Aim-listed high street gaming group Praesepe in a deal worth around £45m. The entertainment group, which owns the Beacon Bingo club and Showboat amusement arcade chains, was taken over last year by its lenders, including the part-nationalised Royal Bank of Scotland, which now wishes to sell the business to Praesepe. Praesepe shares have been suspended while the company works on a strategy to finance the deal. All parties declined to comment.