It appears definite that UK Gambling empire,
Stanley Leisure Plc. is being bought out by a Malaysian investment holdings
company by the name of Genting International Plc. The selling price is reported
to be over $1 billion, which is one-quarter higher than the September 1 London
Stock Exchange closing price of Stanley Leisure. Amidst speculation that Stanley
Leisure was resisting courtship by outside investors, it was not clear if
Genting International was being taken into good favor by Leisure.
Genting International made their intent to purchase
Leisure on September 2, and have since then acquired 30% of the company's
shares. With over $80 million in company revenue for the year 2005, Genting is
well endowed to take control of the largest casino and gambling operator in
the UK. In addition to some forty-five gambling sites and casinos in the UK,
including four casinos in the heart of London, Stanley Leisure also has an
interest in several other European gambling markets such as Germany, Italy and
Belgium.
Genting International is making it apparent the
company plans to diversify their finance portfolio with the purchase of Stanley
Leisure. Beforehand, Genting primarily concentrated its investing efforts in the
hospitality industry. This naturally gave way to interest in resorts, which in
turn, resulted in the purchase of Maxim's Casino Club in early 2005. Taking
stake into Stanley Leisure now gives Genting the credibility of a global
supplier of casino gambling interests, not to mention the prospects of a stake
in the online casino gambling industry.