The battle over Sydney’s casino marketplace took a turn that is dramatic week, as Echo Entertainment unveiled a plan that will 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 plan that is latest also incorporates room for the new place operated by Crown, their arch rival.
Two Plans Offered Up
Echo’s latest proposal is actually two separate plans they are willing to provide the latest South Wales government. In either regarding the two scenarios, Echo claims that they’d be willing to invest A$1.1 billion ($1 billion U.S.) in order to construct two luxury that is new along side expanding their casino.
The distinction between the two plans comes down to what Echo that is else is to give the government and what they’d allow Crown to complete into the city. Under their preferred plan, they would pay the government an additional $250 million in an effort to extend their exclusivity agreement in Melbourne, an agreement that currently runs through 2019.
But, Echo also provided a plan that is alternative that they wouldn’t normally make that re payment. Instead, they might enable Crown to build a casino in Barangaroo, in the condition that it in fact was a facility that is VIP-only.
‘This alternative could be regarded as a win-win that is potential for the folks of Sydney,’ said Echo chairman John O’Nei (more…)Echo Releases Sydney Casino Arrange with Crown Casino Option