Home UK News New £1 coin 'cost Llandudno amusement arcade owner £30,000'

New £1 coin 'cost Llandudno amusement arcade owner £30,000'

by InterSpaceReporter

Media captionNew £1 coin ‘cost my business £30,000’

An amusement arcade owner has said it cost him £30,000 to ensure his businesses can accept the new £1 coin.

Adam Williams, who owns Llandudno Pier in Conwy county, had to adapt his 1,000 slot machines to ensure they can accept the new 12-sided coin, which was released on Tuesday.

He was helped by the Royal Mint in Llantrisant who sent him examples of the new coin to test his machines.

“I thought logistically and financially it would be a nightmare,” he said.

Mr Williams also owns Fun Factory and Tir Prince Raceway attractions in Towyn, Conwy county.

Image copyright
Getty Images

“We’re lucky as we are a sizeable company with in-house engineers,” he told BBC Radio Wales’ Good Morning Wales.

“So we can deal with these kind of problems even though it will cost us tens of thousands of pounds to accept this new £1 coin.

“If I was a small business or single-site operator it could make you bankrupt.”

The new £1 coin has a hidden security feature to make it difficult to counterfeit.

Mr Williams said he was glad the new coins were introduced before Easter.

“Thankfully we can get the machines adapted and tested before the start of the summer season,” he added.

“They brought the coin in at the right time so we’ve had the winter quiet period to do this work.

“So although there is not a lot of income coming in to pay for the work, it does mean we can start the summer off fully operational.”

Source link

You may also like