Shares in London Clubs International (LCI) are on the rise amidst speculation that Genting Bhd will make a move to bid for the company, possibly by month end. Analysts are predicting that the gaming division of the Malaysian conglomerate will eventually push through a merger of LCI and Stanley Leisure, having built up a stake of over 29% and 20% respectively in the two companies.

Genting International PLC, a 64.3% owned subsidiary of Genting Bhd, acquired Maxims Casino Club in London from Gala Group in September 2004 and two months later entered a joint venture, Stanley Genting Casinos Ltd, with Stanley Leisure, to take advantage of new licence possibilities in Britain under the Gambling Act 2005. Genting International has been raising its stake progressively in LCI since 2001. As the largest corporation in Malaysia, the business activities of Genting Bhd range from leisure and gaming to property, plantations, paper and power.

LCI currently has five London casinos and recently has been granted a licence for a further casino and restaurant complex in Leicester Square. Around Britain it has also obtained new licences in Glasgow, Nottingham, Leeds and Blackpool, giving the company a total of seven provincial licences. Manchester, Southend and Brighton are the other UK operations, and internationally LCI has casinos in Egypt (2) and South Africa (1).

Stanley Leisure plc is the largest casino operator in Great Britain, with 37 provincial licences and four in the capital. Should Stanley and LCI ever be merged, the resulting casino operator would be a formidable force in the gaming world. (E-11.23.05)

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