Shortening Packer's Echo odds

With Packer's strategy for Echo control based on assertions of poor management, the casino operator's surprise loss comes at the worst possible time.

It’s not the ideal way to mount a takeover defence. Under siege from James Packer, Echo Entertainment has foreshadowed a lacklustre full-year trading result that will be studded with some big buckets of non-trading red ink, including $30 million of losses that are a gift to the Packer campaign.

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