Genting HK paving way to raise stake in Australia's Echo

Singapore

GENTING Hong Kong (HK) has received approval from one of two Australian authorities to raise its stake in Echo Entertainment Group above 10 per cent, the gaming company announced on Friday.

The New South Wales Independent Liquor and Gaming Authority gave its consent on Sept 3 for Genting HK to increase its shareholding in Brisbane-based Echo above 10 per cent, but not more than 23 per cent without further approval.