Australian news reports have indicated that a long awaited decision from the NSW Independent Liquor and Gaming Authority (ILGA) could come as early as today on whether KT Lim of the Genting Group may increase his stake in Echo Entertainment. However it appears the decision will be delayed while Genting Malaysia Bhd’s indirect subsidiary, Resorts World Ltd sells its entire 17.81% stake (1.43 billion shares) in Genting Hong Kong Ltd.

Mr. Lim applied for an increase beyond the legislated 10% cap per shareholder back in 2012, and the ILGA’s decision could effect resources that are available for a bidding war in regard to a potential new casino in Brisbane. James Packer is also opening a massive project at Barangaroo with an anticipated opening date of 2019. Packer’s new casino could siphon off high rollers from Echo’s Star Casino in Sydney. Crown Sydney casino is billed as a VIP only venue.

Reports estimate Mr. Lim’s stake in Echo Entertainment is to rise to 25% if given regulatory approval.

Echo has held a monopoly on the Sydney market with the Star Casino. Mr. Packer held a 10% stake in Echo until he unloaded the shares in May of 2013, presumably to focus on his Crown Sydney development.

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