Inspired Gaming, the United Kingdom-based leisure gaming supplier, has agreed to the sale of its pubs division to Danoptra, the gaming machine operator, Inspired said on Monday in a prepared statement.
Inspired Gaming has also agreed to supply its server based platform to Danoptra's pubs-based sector.
In addition, Inspired will raise £40 million to finance the cost of exiting the division through the placing of shares, the company said.
The company announced in May it was selling its ailing division, which includes more than 82,000 machines in pubs, bingo halls and casinos in the United Kingdom. The company said it hoped to raise £40 million by issuing 50 million shares at 80p each.
However, because of current market conditions, the company is forced to alter its terms and will instead issue 80 million shares at 50p each, according to the company statement.