Is Genting Singapore to launch Echo bid?

April 13, 2012 by Simon Liddle

Print this page
Australian casino operator Echo Entertainment is rumoured to be a potential acquisition target for Genting Singapore, the owner of the Resorts World Sentosa integrated resort.

Echo, which demerged from Tabcorp’s wagering business last year, has been the subject of speculation previously, with fellow Australian operator Crown said to be keen to up its existing 10 per cent stake in the business.

Now, however, the Wall Street Journal is suggesting that Genting is poised to launch its own bid for the company.

“Our analysis suggests that Genting Singapore could comfortably pay AU$6 – AU$6.50 a share, a 35-50 per cent premium to Echo’s current share price,” said Macquarie analyst Gary Pinge.

This would place Echo’s value at nearly AU$4.5bn.

Australia’s tourism industry is attempting to draw a larger number of Asian consumers over the coming years, focusing particularly on the Asian VIP gaming dollar.

The acquisition of Echo would mean Genting is strategically placed to take advantage of this.

Tax hike proposed in Czech Republic

The Czech government is drafting a bill that would allow online gaming for all casino operators in the country but also raise taxes for them.

Refocus for Atlantic City

As Atlantic City’s “Do AC” campaign enters its second year, the Atlantic City Alliance, a casino-funded marketing group, is refocusing its message.

WMS wins big in Sweden

Sweden’s Casino Cosmopol has released the final results of its tender for slot machines, with WMS Gaming winning 30 per cent of the total order, the single largest share awarded in the tender.

Related articles

Subscribe to InterGame today

Our Publications

intergame

InterGame is the only monthly magazine covering the international coin-op amusements and gaming industry.

Learn more

intergaming

InterGaming is the leading monthly magazine covering the international land-based casino and gaming industry.

Learn more

intergamingi

Published bimonthly, iNTERGAMINGi is the leading publication for the growing international online gaming industry.

Learn more

Year Book

An extensive annual review of the industry covering all three gaming sectors and including a global directory of suppliers.

Learn more

intergaming Law

InterGaming Law is a bi-annual magazine, launched to meet increasing demand for an independent international publication dedicated to legal developments affecting the global gaming sector.

Learn more

Coin–op Community

Coin-op Community is an online marketplace where buyers meet sellers, produced in association with InterGame.

Learn more

Our Partners

This website uses cookies to enhance your experience and allow key parts of the site to work.
By browsing this website you are giving us your consent to set cookies. Learn more ›