MELBOURNE: Singapore gaming operator Genting said it had taken a US$234mil stake in Echo Entertainment, raising the prospect of a battle for control over the Australian casino company with billionaire rival James Packer.
Packer, who wants to use Echo's licence to build a new casino complex in Sydney to attract more Asian high-rollers, has been agitating for change at Echo after building a 10% stake in the company, and yesterday succeeded in ousting the company's chairman.
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