To almost 10 %
Genting seeks to raise stake in Australian Echo
(Malaysia / Australia).- Malaysian Genting Group is seeking to increase its stake in Australian casino company Echo Entertainment Group above the 10 % threshold, a state regulator said this week.
2012-06-28
Reading time 21 seg
(Malaysia / Australia).- Malaysian Genting Group is seeking to increase its stake in Australian casino company Echo Entertainment Group above the 10 % threshold, a state regulator said this week.
Confirming an earlier Reuters report, the New South Wales Independent Liquor and Gaming Authority said it would consider Genting's application.
Genting confirmed last week it had increased its stake in Echo to almost 10 percent, putting it on par with Australian billionaire James Packer who is seeking to gain control of the $3 billion Australian casino operator, which owns Sydney's only casino.
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