Genting, the Malaysian gaming and energy group, has made its long-expected bid for Stanley Leisure with a recommended 860p-a-share cash offer, valuing the UK’s biggest casino operator at £639m.

Describing the move as “the right time to expand” in the UK, the Malaysian casino operator’s bid is pitched at a 26.4 per cent premium on Stanley’s price on September 1, the last working day prior to Stanley’s announcement of an offer.