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Genting Makes Play on Stanley Leisure

23 Nov 2004

UNITED KINGDOM – As reported by the UK Evening Standard: "Asia's biggest gambling group today swooped on Britain's casino industry with a £47m investment play centred on a major partnership with Stanley Leisure.

"In a series of deals, Genting has built up a 10.2% stake in Stanley, bought Kensington's upmarket Maxims casino and formed a joint venture with Stanley specifically to develop the large super-casinos to be allowed under forthcoming legislation.

"Genting has paid Stanley founder and chairman Lord Steinberg £36m for eight million shares in the company.

"…Genting will end up with a 10.2% stake in Stanley.

"But in what could prove to be the most important part of the deal, it has struck a joint venture arrangement to take advantage of any future super-casino licences…"

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