Genting Rumoured to Be Bidding on Echo Entertainment

In Australia and New Zealand, casino operators are placing more of a focus on attracting customers from Asia – and new deal may make that possible for one gambling company. A recent report claims that Genting Singapore is interested in purchasing Echo Entertainment from its local owners, a deal which would likely resulting in more Asian gamblers visiting the country.

The bid seems to have some out of nowhere as the Wall Street Journal has recently confirmed that Genting Singapore has expressed interest in purchasing the casino operator. The report did not cite any reasons – just the simple fact that Genting would be willing to shell out some significant funds for the acquisition.

According to the report, Genting would pay $6/share for the casino operator. It would result in Echo Entertainment being worth an impressive $4.5 billion. The price tag seems to be quite high, as the company has recently invested a great deal of money in revamping its own image, so it would likely take a lot for its owner to want to sell at this point in time.

Echo Entertainment has yet to comment on the rumours, but stay tuned. We will keep you updated as the story progresses.

Echo Entertainment Benefits from High Roller Gambling

Echo Entertainment has announced an impressive $70 million profit during the last half of 2011. The casino operator owes this to the expansion of The Star casino, which recently overhauled its VIP gambling selection, opening up an opportunity to earn more revenue from high-rollers.

“The expansion plans at The Star have now been substantially delivered, on time and on budget,” Echo chairman John Story said in a statement on Friday,” says Chairman John Story.

He believes that expanding the VIP gambling selection was the best decision the operator could have made. With the recession still affecting many of the gamblers across New Zealand and Australia, operators are now focusing on VIP gamblers, who help to significantly boost profits by spending money on high-roller games.

The Star underwent a huge renovation last year. It’s grand re-opening was a star-studded event, gathering celebrities from around the world to check out the new digs.

Echo parted ways with TabCorp in July 2011. The two companies were merged for quite some time, but Echo decided it would be more profitable to stand alone – and it seems that the company is doing just fine on its own.