Genting said it had taken a 4.9 % stake in Echo
Australian Echo may be Genting’s door to Macau
(Australia).- There is growing speculation that two of the largest shareholders of Australian casino operator Echo Entertainment, namely Genting Singapore and Crown, are preparing to discuss a possible alliance, Reuters reports.
2012-06-14
Reading time 24 seg
(Australia).- There is growing speculation that two of the largest shareholders of Australian casino operator Echo Entertainment, namely Genting Singapore and Crown, are preparing to discuss a possible alliance, Reuters reports.
Genting said on Friday it had taken a 4.9 percent stake in Echo. Crown holds a 10 percent stake in Echo.
The Australian Financial Review said Crown’s boss James Packer and Genting Chairman Lim Kok Thay are expected to meet to discuss a possible agreement that could include a potential entry for Genting to Macau.
Crown is part of the joint venture with Melco International Development Ltd that forms Macau casino operator Melco Crown Entertainment.
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