THE founder of Stanley Leisure, Lord Leonard Steinberg, has died aged 73. Born in Belfast in 1936, he began his business life early when he inherited an illegal betting shop in 1955 from his father, Jack.

When betting shops were legalised two years later, he set up L Stanley before relocating to Liverpool in 1977, after being shot by IRA terrorists.

As executive chairman for 45 years, he saw his firm grow to having 690 bookmakers and casinos and employing 7,000 people.

Speaking two years ago about his own epitaph, he said: “I don’t want put on my grave stone ‘he was a nice guy’. I’d like to have ‘he always spoke his mind’. I’ve known a lot of nice guys who have never done a thing with their lives.”

He was named the Liverpool Daily Post’s business person of the year in 1998. Accepting the award, he said: “Over the years, I have been gladdened by making so many friends in Liverpool and on Merseyside.”

In 2005, the firm sold its 600 bookmakers to William Hill for £504m, earning Lord Steinberg £42m.

The casino business was sold a year later, to Genting for £639m, which earned him £68m.

Ranked at 600th place in the Sunday Times rich list this year, his wealth was estimated at £90m.

Lord Steinberg said: “I never realised that I was an entrepreneur – it’s only once you have built your business and it’s a success that you realise that you have become an entrepreneur.”

He was politically active and was deputy treasurer of the Conservative Party from 1994 to 2002 before he became a Tory life peer in 2004.