Page last updated at 12:33 GMT, Wednesday, 4 November 2009

NI betting tycoon Steinberg dies

Roulette wheel and chips
Casinos were a major source of Lord Steinberg's wealth

The Belfast-born businessman Leonard Steinberg has died, aged 73.

Lord Steinberg founded Stanley Leisure in Belfast in 1958 with one betting shop.

It became the largest casino operator in the UK and the fourth largest bookmaker, with 600 shops.

Lord Steinberg was made a Conservative peer in 2004, with the title Baron Steinberg of Belfast. He was also President of the Northern Ireland Friends of Israel.

He left Northern Ireland in 1977 after he was threatened by the IRA.

His business was based in Liverpool and he lived in Hale, Greater Manchester.

Wisdom

In 2005 his firm sold its bookmakers to William Hill and the casino business was sold a year later.

In 2009 the Sunday Times Rich List estimated his fortune at £90m.

Conservative leader David Cameron said: "Leonard was a popular and active member of the House of Lords, and a good friend to the Conservative Party.

"He regularly offered me his sage advice and words of wisdom, which were always gratefully received.

"My thoughts and prayers - and the condolences of the whole Party - go out to Beryl and Leonard's family at this very difficult and sad time."



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SEE ALSO
Casino group accepts takeover bid
11 Sep 06 |  Business
William Hill buys Stanley shops
16 May 05 |  Business


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