Echo Entertainment Group (EGP)

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Stock Exchange


Echo Entertainment Group (EGP) is engaged in casino business. In June 2011, the company demerged with Tabcorp Holdings Ltd. The standalone entity operates casinos in New South Wales and Queensland, Australia. Its flagship venues include Star City in Sydney and Jupiters Hotel and Casino on the Gold Coast. Echo Entertainment Group emerges as a dynamic organisation with four vibrant businesses - hospitality, dining, nightlife and gaming – that combines the strength of one of Australia’s largest publicly listed gambling companies with the drive of an entrepreneurial start up.

Echo Entertainment Profit $66.5m down 5.3%

Casino operator, Echo Entertainment (ASX:EGP) have released its first half results for FY 2013 to shareholders.

  • Echo Entertainment net profit down 5.3 per cent to $66.5 million for the 6 month period from $70.2 million in the previous corresponding period.
  • EGP revenue up 4.2 per cent to $912.6 million

South East Asian Gambling Group Genting Sells Down Echo Entertainment

South East Asian gambling group, Genting has sold down its share of Echo Entertainment (ASX:EGP) in an announcement to the ASX stockmarket overnight.

  • Genting had increased its stake in Echo Entertainment group earlier in the year and had sought approval from regulatory authorities to expand its shareholding.
  • Genting was looking to sell 4.8 percent or 39.6 million shares in Echo Group through its broker Citigroup.

Crown Casino Invests in Western Australia

Crown Casino (ASX:CWN) has announced plans of building a $568 million 6 star hotel at its Perth casino. A deal struck with the Western Australian (WA) government includes an expansion of gambling facilities. The hotel is called Crown Towers and will be built on the Burswood Peninsula. It will have 500 rooms (increasing capacity to 1200 rooms in the precinct) along with restaurants, bars, resort and convention facilities.

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