Hello Stuart and welcome in.
Firstly, a little about Sega's history......
"Founded in 1951 by American David Rosen, who moved permanently to Japan after WWII, Sega (originally dubbed Rosen Enterprises) started out as an art export company. By the late 1950's Rosen had moved on to importing instant photo booths and coin-op games from the United States.
Rosen Enterprises continued to expand. In 1965 the company purchased a jukebox manufacturing company, which was then merged into Rosen Enterprises. Upon completion of the merger, the company was renamed to Sega, which was a contraction of "Service Games." "
Source
http://www.planetdreamcast.com/about/sega/
They were called "Service Games" because they supplied machines to US army bases in the far East.
I am not familiar with this particular machine but assume it is a standard Sega bandit. If so..........
Most Segas that I have seen use an exact copy of the much earlier Mills mechanism which dates from the late 1940s- I have been told that David Rosen simply "ripped this off" as it is not possible to copyright or patent a gambling device.
As to restoration, the mechanism is fairly simple if you have basic mechanical competancy. In my experience a good clean and lubrication of the gubbins will work wonders- do not over-oil though.
The most common fault with Sega bandits is that they do not pay out, and this is usually because a coin has become lost and has fallen into the coin-slider, either jamming it or dislodging the reset bar.
Servicing the mechanism properly means separating the top half (with the reels) from the bottom half (the base). This is more straightforward than it might seem, involving just half-a-dozen or so mechanical disconnections, mostly just circlips etc. Just make a note of what you are doing as you do this on paper and you should have no problems putting it back together.
As to restoring the body, it's up to you. If the paint is original and good, then I would suggest that you clean it up, and do nothing else. If it isn't good.....well, that's up to you. I have a Sega Diamond & Star which I bought as scrap and resprayed with a Halfords rattle-can. This might offend purists, but hey- it's my machine!
If there's anything else you need to know, just ask, I'll be happy to assist. Some photos would help.
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