Casino operator Echo Entertainment Group plans to raise money via the issue of new shares.

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

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

The company would not make further comment on Tuesday.

Before the trading halt, Echo shares were steady at $4.49.

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.