06-09-2006 Stanley Leisure confirms offer approach

UK’s biggest casino operator said that it noted the recent movement in its share price and confirmed that it has received a proposal concerning a possible offer which the Board is currently evaluating. Malaysian conglomerate Genting, which already has a 10.6 per cent stake in Stanley, is thought to be the mystery firm behind the offer.

In separate news, OPAP denied to have an interest for Stanley Leisure, despite media reports mentioned the Greek betting monopoly as one of the possible suitors for the UK casino operator.

UPDATE: According to The Times, Stanley Leisure is ready to accept a takeover bid from Genting worth between 850p and 880p per share, which would value the casino operator at more than £600 million.