Steinbergs go to court

By Marcus Dysch, July 15, 2011
Lord Steinberg

Lord Steinberg

The children of late bookmaking tycoon Lord Steinberg are taking legal action against the remains of his gambling empire following an alleged multi-million pound dispute.
Lord Steinberg's son Jonathan and daughter Lynne argue that their father had not pledged a £20 million guarantee to the Stanleybet company to fund a joint venture.

It is thought the money is needed by Stanleybet to support a Polish betting shop operator which it part-owns.

The case is expected to lead to a High Court battle and could expose a rift between the Steinberg family and the remainder of Lord Steinberg's company. The Stanley Leisure empire was broken up after the sale of its bookmaking arm to William Hill in 2005.

The former Leonard Steinberg was 73 when he died suddenly in 2009.

A Conservative life peer and president of Northern Ireland Friends of Israel, Lord Steinberg was born in Belfast and made his fortune in the gambling industry as the founder and non-executive chairman of Stanley Leisure. He moved the business to Liverpool in 1977 after he was shot by the IRA for refusing to pay protection money. He was estimated to be worth £90m by the 2009 Sunday Times Rich List.

Last updated: 11:37am, July 15 2011