Echo set to raise more cash
Echo set to raise more cash

Casino operator Echo Entertainment plans to raise funds by issuing new shares.

Echo shares were placed in a trading halt, ahead of the release of full details of a capital raising venture.

"Echo makes this request for a trading halt pending the announcement of a proposed capital raising," Echo said in a statement.

The company last week lost its chairman John Story after Crown's James Packer launched a public campaign against him.

Crown is Echo's largest shareholder, with a 10 per cent stake.

Echo owns The Star casino in Sydney, the Jupiters casinos on the Gold Coast and in Townsville, and Treasury casino in Brisbane.

The West Australian

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