Stymied in U.S., Genting Ups Stake In Australia's Echo

Wed, 06/20/2012 - 02:44 EDT - Forbes.com - Top Stories

Eager to expand abroad, Malaysia?s has run into regulatory and political hurdles in and . A more promising opportunity awaits in Australia, where has upped its stake in Echo Entertainment Group, which operates a casino in Sydney and other hospitality assets. Via its Hong Kong and Singapore subsidiaries, now holds nearly 10% of Echo. That ...

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Genting scions gain foothold in Australia, eye Asia gaming deals
SYDNEY (Reuters) - Two scions of Malaysia's Genting gaming empire inked a deal on Tuesday to gain control of listed Australian wagering group Two Way Ltd as they seek to build their own casino and leisure business in southeast Asia. Joey Lim Keong Yew and Ben Lim Keong Hoe, grandsons of Genting founder, the late Lim Goh Tong, and nephews of current CEO and chairman KT Lim, are behind a reverse takeover that will give the Australian company a 75 percent stake in an expanding casino and hotel complex in Vietnam. ...
Genting scions gain foothold in Australia, eye Asia gaming deals
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Stymied in U.S., Genting Ups Stake In Australia's Echo

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