Echo Releases Sydney Casino Plan with Crown Casino Choice
The battle over Sydney’s casino marketplace took a dramatic change this week, as Echo Entertainment unveiled a plan that would have a $1 billion expansion of their existing Star casino in the town. But while Echo had formerly appeared to want a monopoly over the city’s casino industry, their latest plan also includes space for a new location operated by Crown, their arch rival.
Two Plans Offered Up
Echo’s latest proposal is actually two separate plans that they’re willing to provide the New South Wales government. In either regarding the two scenarios, Echo states that they’d be willing to spend A$1.1 billion ($1 billion U.S.) in order to build two new luxury resort hotels along side expanding their casino.
The distinction between the two plans precipitates to what Echo that is else is to provide the federal government and whatever they’d allow Crown to do in the city. An additional $250 million in order to extend their exclusivity agreement in Melbourne, an agreement that currently runs through 2019 under their preferred plan, they would pay the government.
However, Echo additionally provided a alternative plan in which they would not make that payment. Instead, they’d enable Crown to build a casino in Barangaroo, in 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 that pr Read more