Malaysian gaming and entertainment group Genting has agreed to buy UK casino operator Stanley Leisure for £639m.
Genting’s approach for Stanley Leisure – which owns 45 casinos in the UK – was rumoured last week, but at the time, Stanley only admitted that it had received a bid, without revealing the name of the suitor.
Bob Wiper, Stanley’s chief executive, said: “We are pleased to announce this recommended offer from Genting International [a subsidiary of Genting]. We believe that it represents fair value and provides appropriate certainty for our shareholders.”
Genting International’s chair, Tan Sri Lim Kok Thay, added: “We are delighted that the board of Stanley is recommending this offer and look forward to Stanley joining Genting International to create an even stronger base for its future in the UK and the rest of Europe.” Details: www.genting.com
