COIN MACHINE FIRMS RETOOL FOR NEW POUND COIN

The Carlisle boss of a national amusement machine supplier has revealed the huge price his firm has had to pay to support the introduction of the none round pound.

Leisurematic, which operates about 1,000 coin-operated machines across the length and breadth of the country, is having to fork out more than £30,000 to ensure it can survive the arrival of the new pound coin.

That’s the total cost to have the coin mechanism in every machine either reprogrammed or replaced.

“We just really had to bite the bullet on it,” says managing director Jonathan Barker, who thinks the amusement industry and vending sector in general will be hit hard by the introduction of the new coin.

“The impact on businesses that have coin validators is phenomenal.

“It’s imposed on you but we accept the reasoning behind it.

“It’s not something you can protest about it’s just the nature of being in business.”

The company, which was established 10 years ago by Mr Barker, has had a year-long strategy to approach the change over.

Leisurematic offers amusement machines and children’s rides on a shared-income rental basis.

Part of its rental package is that it covers all maintenance of the machines, meaning the firm absorbs the whole reprogramming and replacement costs of the coin mechanisms in its machines.

Mr Barker says the company has dealt with coin changes in the past but thinks this is the most radical experienced due to the shape of the coin and what he says is a narrow timescale set by the Government to phase out the existing pound coin.

He also says the arcade is likely to be able to accept both coins during the co-circulation period.

“Whatever happens it’s a bit of a nightmare really.

To read the complete article, see:
New 12-sided £1 coin could have costly impact on Cumbrian firms (www.newsandstar.co.uk/lifestyle/features/article/New-12-sided-1-coin-could-have-costly-impact-on-Cumbrian-firms-bd0a15d1-273f-4a68-897c-c21597e66be6-ds)

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