SEARCH NEWS:

 

Genting Combines Stanley Leisure, London Clubs

UNITED KINGDOM – As reported by the International Herald Tribune: "Genting, Asia's biggest publicly traded casino operator, has announced plans to combine its stakes in Stanley Leisure and London Clubs International, part of a strategy to expand in Britain's gambling industry.

"The move will enhance the company's 'ability to leverage its investments in the U.K. and expand its leisure and hospitality related business activities,' Genting said in a statement released late Friday in Kuala Lumpur.

"Genting, which is based in Kuala Lumpur and operates a hilltop casino and theme park resort about an hour from Malaysia's capital, is expanding overseas as competition intensifies from U.S. casino operators in Macao and Singapore, where Genting is also bidding for a casino complex.

"The stakes in Stanley Leisure and London Clubs will be combined in Genting International, Genting said.

"…Genting will hold half of a joint venture formed to build and run casinos in Britain, Stanley Leisure's chief executive, Bob Wiper, said on Nov. 23…"

< Gaming News