Echo sues high rollers

Company News

Echo Entertainment Group Limited (ASX:EGP) is reportedly filing claims against 10 high rollers in an attempt to recover $23 million in bad debts, according to The Australian.

The bold move will reveal the identities of the high rollers, which the gaming company historically fought to protect.

Echo revealed last week it was to record a $29.9 million writedown this year, due to its international high-rollers business.

The gaming company says its partner SilkStar Global Marketing was put in liquidation earlier this year and failed to repay Echo $7 million in funds.

In the first half of its 2012 financial year Echo reported a net profit of $70.2 million.


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