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Perpetual Limited (ASX:PPT) is reportedly looking to increase its stake in gaming company Echo Entertainment Group Limited (ASX:EGP).
According to The Australian fund manager Perpetual lodged applications with the New South Wales and Queensland governments to increase its stake to above 10 per cent.
Perpetual is an 8 per cent shareholder in Echo and holds 10 per cent of Crown.
Earlier this year James Packer’s Crown Limited (ASX:CWN) moved to increase its share in Echo to above 10 per cent.
In the first half of the 2012 financial year Perpetual reported a net profit of $21.4 million.
