Genting Closes In On LCI UK Casino Deal

Malaysian gaming group, Genting, has increased its stake in the UK casino sector by investing heavily in two leading gaming operators.

Genting has increased its ownership of London Clubs International (LCI) to 29.9 per cent – just under the threshold where it would be obliged to make a bid for the entire company.

The move is seen as paving the way for a takeover bid, although both companies have declined to comment.

Earlier in the month, the Malaysian group also increased its stake in Stanley Leisure to 20.3 per cent.

Speculation is rife that Genting is considering acquiring and merging the two companies following the implementation of the new UK Gaming Act.

Last November, Stanley and Genting launched a joint venture company, Stanley Genting Casinos (SGC), to develop regional casinos following the deregulation of gaming.

Meanwhile, Stanley could soon become a casino-only business, as it is in talks to sell its bookmaking division to William Hill.

FTSE 100-listed William Hill has confirmed that it is in talks with Stanley and is likely to make a £500m bid for its betting shop arm.

If successful, the deal would see William Hill gain control of Stanley’s 600 betting shops, making it the UK’s largest bookmaker.