Malaysian gaming firm eyes up UK casino operator Stanley Leisure

12 September 2006
Malaysian gaming firm eyes up UK casino operator Stanley Leisure

Stanley Leisure has become the latest UK casino operator to recommend a takeover bid by a global company.

The 860-pence-per-share offer from Malaysian gaming firm Genting Casino values Stanley Leisure - the largest casino operator in the UK with 45 venues - at about £639m ($1.2bn).

Genting already owned about 20% of Stanley Leisure's shares and has now bought a further stake of nearly 11% from the UK firm's founder and chairman Lord Steinberg.

The Malaysian firm now has an interest in or commitments over approximately 30.5% of Stanley's share capital.

UK gambling companies have become increasingly attractive to foreign rivals following a shake-up of the laws governing the UK industry.

Last month, London Clubs International was bought by US gaming giant Hurrah's Entertainment for £280m.

Stanley Leisure had been in merger talks with London Clubs before Harrah's swooped.

Blackpool holds on to dream of supercasino >>

Clermont Club sold for £31m >>

By Daniel Thomas

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