The deal, which has been agreed with Jon Shipley and which will complete later this month, represents the first part of the jigsaw as Harding launches an ambitious bid to create a pan-European gaming company with earnings before interest, tax, depreciation and amortisation of £50m (?62.9m/$98.5m) by the start of 2010.

Harding, who is current president of British trade association BACTA, confirmed: "We are now in talks with a number of gaming businesses both here in the UK and in Europe. Whilst ‘slots' will represent an important part of our business mix, we are pursuing a broad range of opportunities which fit into the low stake high volume gaming category." He added: "Jonathon Hughes will be taking control of our AGC business and will be driving it forwards in terms of acquisition and business development.

"I can confirm that following completion of the purchase we will be retaining the staff and administrative infrastructure based in Nuneaton."

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