Asian Casino operator expands in UK

Asia's biggest casino operator, has announced plans to expand in Britain's gambling industry.

The company will now have the ability to leverage its investments in the U.K. and expand its related business activities," Genting said in a statement released last Friday.

Genting Overseas Holdings, will sell a 20.3% stake in Stanley Leisure to Palomino, by Genting International, for $35.7 million. And Genting International, in turn, will issue shares to Genting Overseas.

Stanley Leisure is one of the biggest casino operators in the UK, and said last November that it would join with Genting to develop Las Vegas style casinos in Britain, taking advantage of the nation's new gambling laws.