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Splendid!
I still haven't found one.
Or a Bryan's Bran Tub...

Bought mine about 18 months ago, rebuilt the mechanism onto a new base board as original planks had warped and split. Also updated electrics as originals were lethal.

It’s working now but still got to restore the outside.

Will you be retaining the elephant, or is that also to be 'updated'?
I've seen one with Thomas the Tank Engine, on a staggering £1 play!

Definitely keeping the elephant and as much of the original machine as I can. There's a top flash to go on it as well, but one of the glass panels is broken, and it makes it too tall to go through a standard door, so may have to be a bit of sympathetic re-work on that.
I've even got a load of original swag that came with and also picked up several hundred unused boxes. Also got visible bits of original coin mech that I'm going to use as coin entry for a programmable coin mech.

£1 does not seem excessive when you consider that an arcade not far from me charged £1.50 and had thought about charging £2 for a Thomas the Tank version. It dispensed plastic capsules, no doubt with updated tat inside. He recently sold the machine as he thought it was a bit tired and outdated.

Anything figural that moves, and/or vends a fortune card, will support £1 price of play if single sited, from Fortune Teller machines, Peppy the Clown, Sooty Band, Pelham Puppet Show, etc, even Treasure Cave provided that a quality prize is vended.