Casino Operator Dumps Chairman

Australian casino operator Echo Entertainment axed chairman John Story and replaced board member John O’Neill.

This followed attacks on Story’s leadership by rival casino operator James Packer, who has a 10 percent stake in Echo and is planning a takeover.

Echo claimed Packer’s public campaign against Story was damaging to the company.

Packer is wooing Malaysian casino magnate KT Lim, whose company Genting Casinos also has a stake in Echo.
It is expected Packer will offer Genting an entry to Macau, where he operates two casinos, in return for Lim’s support for his Echo ambitions.