Genting Ups Stake for Stanley

Genting said that their offer for Stanley Leisure was now unconditional, after having raised their stake in the UK's biggest casino operator to 69.4 per cent.

Genting’s chairman, Lim Kok commented that the group was planning to become a global firm with the Stanley acquisition, positioning itself to take full advantage of the pending deregulation of UK gambling.

An offer of 860p has been made per Stanley share, which means that the company’s valuation now stands at £639 million. Lim said revealed that half of that money will be funded by bank debt and the rest will be covered with cash.

Editor, - 2006-10-10 12:00:05

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