Stanley to bid after UK super-casino surprising decision

Many analysts had predicted either Blackpool or the Millennium Dome in London would be chosen. Bid organisers said it would regenerate a poor area of east Manchester, promising a us$ 520 million investment and 2,700 direct and indirect jobs in one of the most deprived parts of the country.

Late last year, Stanley was acquired by Malaysian gaming giant Genting in a deal worth us$ 1.2 billion and Stanley’s finance director Michael Riddy said Tuesday he believed the merged group stood an excellent chance of successfully bidding for the licence. He also said the firm intended to bid to run the other large regional casinos that the Government is also going to allow.

"I have to admit I was surprised at the decision," he said. "A supercasino is great news for Manchester as it will act as a catalyst for widespread regeneration in the area”, he said, and then added: "I think a standalone UK casino operator might struggle to compete against bidders from say, the US, but our position now as part of a multi-national group is a very strong one. Genting recently won a us$ 5.8 billion casino project in Singapore so the merger with ourselves is a good combination".

Since the Government announced a huge expansion of the UK casino market, there has been widespread concern that there could be a surge in the numbers of people becoming addicted to gambling. But Riddy pointed out that the UK casino sector was one of the most tightly regulated in the world, and claimed the internet was largely to blame for problem gambling.