Genting raises Echo stake

 

Malaysia’s Genting Group raised its stake in Echo Entertainment Group Ltd. to 6.6 percent from 5.22 percent via its Hong Kong-listed unit. Genting’s Singapore unit had sold off shares last year, but the group this year applied to Australian regulators for permission to raise its stake to as much as 25 percent. Crown Ltd. last month sold its 10 percent stake in Echo just after winning approval to raise it.