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Echo Releases Sydney Casino Plan with Crown Casino Option

The battle over Sydney’s casino marketplace took a dramatic turn this week, as Echo Entertainment unveiled a plan that would feature a $1 billion expansion of these existing Star casino in the city. But while Echo had formerly appeared to want a monopoly over the city’s casino industry, their latest plan also contains room for a brand new place operated by Crown, their arch rival.

Two Plans Offered Up

Echo’s latest proposal is actually two separate plans that they are willing to provide the latest South Wales government. In either of the two scenarios, Echo states that they’d be willing to invest A$1.1 billion ($1 billion U.S.) in order to create two luxury that is new along with expanding their casino.

The distinction between the two plans comes down to what else Echo is ready to provide the federal government and whatever they’d allow Crown to do within the city. Under their favored plan, they would pay the government an additional $250 million to be able to give their exclusivity agreement in Melbourne, an agreement that currently runs through 2019.

However, Echo additionally provided a alternative plan in which they will never make that re payment. Instead, they might allow Crown to build a casino in Barangaroo, regarding the condition that it in fact was a facility that is VIP-only.

‘This alternative are seen as a potential win-win scenario for the individuals of Sydney,’ said Echo chairman John O’Neill.’ If t Continue reading →