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.
