Goldman Sachs boosts stake in Echo

Company News

Investment bank Goldman Sachs has boosted its stake in Echo Entertainment Group Limited (ASX:EGP)

The casino owner and operator says Goldman Sachs has now lifted its interests in the company to 6.53 per cent.   

Echo Entertainment advises no individual can have a voting power of more than 10 per cent in the company. 

Should an individual exceed this restriction Echo Entertainment says it may refuse to register any transfer of shares. 

Echo Entertainment Group’s net profit fell 30 per cent to $46.1 million in the first half of the 2014 financial year.