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EGP $4.85

News: Echo Entertainment rings in stronger H1 profit

  1. Echo Entertainment Group Limited (ASX:EGP) has rung in stronger profits in the first half of the 2015 financial year thanks to its domestic and International VIP Rebate businesses. 
    The casino owner and operator boosted its net profit by 111 per cent to $97.1 million while its normalised net profit gained 78 per cent to $112.6 million. 
    Managing Director and CEO Matt Bekier says the domestic gaming business is performing well on the back of continued investment in product and marketing initiatives. 
    Looking ahead Echo will focus on growing earnings, delivering on the initial stages of the capital program to substantially expand and redevelop the Jupiters Gold Coast property and advance its proposal for the development of Queen’s Wharf Brisbane.  
    A fully franked interim dividend of 5 cents per share has been declared. 

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