Genting unit Echo sees H1 profit up as much as 31 pct

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SYDNEY (Oct 30): Australian casino company Echo Entertainment Group Ltd said on Thursday it expected its first-half profit to rise as much as 31 percent after posting strong gains in revenue from international VIPs and local gamblers.

Echo, which operates Sydney's Star Casino, said it now expected normalised earnings before interest, tax, depreciation and amortisation of A$245 million to A$260 million ($214.8 million to $228 million) for the six months to Dec. 31.

Shares in Echo reversed earlier losses of around 2 percent to be up as much as 5.7 percent to an 18-month high of A$3.75 in afternoon trade.