Ruling on Crown’s Echo stake postponed

 

The Independent Liquor and Gaming Authority said it was still studying whether to approve Crown Ltd’s application to raise its stake in rival Echo Entertainment Group Ltd to 25 percent from 10 percent. KT Lim, chairman of Malaysia’s Genting Group, which has applied to raise its own stake in Echo from 5.2 percent to 25 percent, met with the gaming authority before its meeting this week. Crown and Echo are pushing rival casino investment plans for Sydney.