Following a review of all operations and financials across the group, P&G Leisure, the UK holding company for Select Gaming and G-Squared Games, has announced significant structural changes.
A sales process was initiated in July, which has now concluded. The share capital of the group has been acquired by Andrew and Jonathan Powell, with their father, John Powell, retaining a holding.
“We undertook a review, which focused on improving financial resources, developing our operations and delivery functions, identifying efficiencies and reducing the time to bring new products to market,” said Jonathan. “Additionally, it was important that we could continue investing heavily in our machine estate to provide the very best equipment to our customers.”
He continued: “While opportunities to engage with external investors and companies were explored, we also considered the immediate disruption to our operations, the potential disaggregation of the business and loss of industry experience. Therefore, the share capital of the group was acquired by myself and Andrew.”
Following this move, Andrew and Jonathan have been appointed joint managing directors, with Andrew focusing on internal operations and Jonathan managing customer relationships. John will continue his involvement as group chairman. “This investment has enabled us to reduce group debt by nearly 50 per cent, significantly improve our balance sheet, provide new finance facilities, begin implementing our plan to evolve existing operations and continue the roll-out of our brand new Galaxy digital compendium,” Jonathan concluded.
Select Gaming will undergo a full rebrand and as of November 11 will trade as Trident Machines. G-Squared will remain unchanged. “These investments have put us in an excellent position. We are building the Trident brand on Select Gaming’s foundation as a trusted operator, with the directors having over 60 years of combined industry experience. To make sure we exceed this legacy, we’re immediately developing our operations so we can continuously improve the services our customers receive,” explained Andrew.
Under the new Trident brand, the focus will be on developing four key product areas: the Premier Pool cashless pool table system, the Playgo cashless gaming platform, the roll-out of the Galaxy cabinet and further investment into note handling with the imminent launch of the new polymer £20 in the UK.
