Sega was founded on June 3, 1960 by American businessman Martin Bromley. The company started to distribute slot machines to U.S. bases in Japan. During the 1960s, Service Games was renamed to Sega Enterprises Ltd. Sega Enterprises sold their first product, the electro-mechanical game called "Periscope" which became a worldwide hit. In 1969, Sega Enterprises was acquired by U.S. conglomerate Gulf & Western Industries Inc. In 1983, Sega launched the Sega Computer Videogame SG-1000, the first 8-bit video game platform. In 1986, the CSK Group acquired Sega Enterprises through capital participation. Sega Europe Ltd. was established in Europe, and in 1985, Sega Enterprises Inc. was established in the United States. These regional subsidiaries served as a marketing base for amusement arcade machines.