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Genting HK has increased voting power in Echo approved

Genting Hong Kong announced that the New South Wales Independent Liquor and Gaming Authority has allowed the company to increase its voting power in Echo Entertainment above 10 percent.

The ILGA’s approval, which relates to the acquisition of certain stakes in Australian casino operator Echo Entertainment Group, will give Genting HK “the right to increase its voting power in Echo Entertainment in excess of 10%, subject to a condition that such voting power does not exceed 23% without the prior approval from ILGA.”

Echo Entertainment stipulates that a person’s interest in the company must not exceed 10 percent without the prior written consent of ILGA or from the minister responsible for the Casino Control Act.

Genting HK's businesses include Star Cruises in the Asia-Pacific, Crystal Cruises, Resorts World Manila, and a stake in Norwegian Cruise Line.

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