Background
His father, known as “Honest Jack”, worked for the London and Provincial Sporting News Agency, which relayed information between off-course bookmakers and racecourses.
His father, known as “Honest Jack”, worked for the London and Provincial Sporting News Agency, which relayed information between off-course bookmakers and racecourses.
Cyril Stein was educated at West Ham Grammar School.
Born in the East End of London into a family of migrants from Russia. Stein did his best to shun publicity and said one of his main concerns was to keep his family out of the limelight. Appointed chairman of Ladbrokes in 1966 and some 12 months before the company was successfully floated on the London Stock Exchange with an initial market capitalization of £1-million.
Cyril Stein remained chairman until stepping down at the end of 1993 (aged 65) by which time the company was valued in excess of £2-billion.
An Orthodox Jew, he was never seen at a racetrack on a Saturday, the Jewish Sabbath, and was frequently seen in public wearing a knitted kippah. He used his money and influence to try to keep the West Bank, including East Jerusalem, in Israeli hands, and built a large estate in the centre of Jerusalem.
Both an observant Jew and a committed Zionist throughout his lifetime, Cyril Stein spent much of his latter years in Israel. He was:
Vice-president of United Joint Israel Appeal (UJIA)
Supporter of the Jewish National Fund (JNF), including
Chair of the JNF Negev redevelopment project
Trustee of the Jewish Education Development Trust
Trustee and chairman of the Governors of Carmel College, Wallingford,Oxfordshire (United Kingdom).