Stanley Leisure Sell Maxim Stake

10 Mar 2006

UNITED KINGDOM – As reported by the UK Times: "Stanley Leisure has sold back its 50 per cent stake in Maxims, the upmarket casino, to Genting, the Malaysian gaming group, for £8.5 million.

"The deal comes 14 months after Stanley purchased the holding in the Kensington, West London, casino from Genting for £6.45 million as part of a wider tie-up between the two companies to take advantage of new gambling laws.

"Genting received the original payment in Stanley shares — equivalent to a 1.1 per cent stake — and at the same time acquired a further 9.1 per cent stake in the British company from Lord Steinberg, its founder and chairman.

"Since then, Genting has lifted its stake to almost 12 per cent while building a separate holding of 29.8 per cent in London Clubs International, which last month sold its Les Ambassadeurs casino in Knightsbridge to an Indonesian tycoon…"

Language: English Location: Currency: > edit my preferences Home Online Slots Live Dealer Games Online Casinos Online Poker Online Bingo Games Lotteries Sports & Racebooks Fantasy Sports Forex Betting Exchanges Spread Betting Binary Options Exclusive Bonuses Weekly Newsletter Online Gaming News Payment Methods Gaming Software Gaming Site Owners Gaming Jurisdictions		Bonuses! New games! Gossip! And all the player news you can handle. Sign up NOW! View the current issue
	Stanley Leisure Sell Maxim Stake 10 Mar 2006 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> UNITED KINGDOM – As reported by the UK Times: "Stanley Leisure has sold back its 50 per cent stake in Maxims, the upmarket casino, to Genting, the Malaysian gaming group, for £8.5 million. "The deal comes 14 months after Stanley purchased the holding in the Kensington, West London, casino from Genting for £6.45 million as part of a wider tie-up between the two companies to take advantage of new gambling laws. "Genting received the original payment in Stanley shares — equivalent to a 1.1 per cent stake — and at the same time acquired a further 9.1 per cent stake in the British company from Lord Steinberg, its founder and chairman. "Since then, Genting has lifted its stake to almost 12 per cent while building a separate holding of 29.8 per cent in London Clubs International, which last month sold its Les Ambassadeurs casino in Knightsbridge to an Indonesian tycoon…"