Genting International Plc. Expanding Casino Portfolio
According to reports out of London, Genting International Plc., a holdings company from Malaysia, has agreed to purchase Stanley Leisure Plc. of Britain for over $1 billion dollars.
Stanley Leisure is the largest casino gambling operator in Great Britain with 45 gambling casinos, including 4 in London. They also have large investments in Belgium, Germany, Italy, and Romania via international joint ventures.
The agreed price was 25% higher than the closing price on Sept. 1, the day before the announcement of Genting's intent to buy. Genting said it now owns 30% of Stanley Leisure shares.
Genting International has about 30 employees, over $80 million dollars in revenue for 2005, and focuses operations mainly in the hospitality industry. Since their purchase of Maxim's Casino Club in January 2005, they are steadily diversifying their financial portfolio into casino gambling and related businesses.
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