Echo Releases Sydney Casino Plan with Crown Casino Option
The battle over Sydney’s casino marketplace took a turn that is dramatic week, as Echo Entertainment unveiled a plan that would include a $1 billion expansion of these 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 the new location operated by Crown, their arch rival.
Two Plans Offered Up
Echo’s latest proposal is actually two separate plans that they’re prepared to offer the brand new South Wales federal 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 create two brand new luxury hotels along side expanding their casino.
The distinction between the two plans comes down to what Echo that is else is to offer the federal government and whatever they’d allow Crown to do within 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 plan that is alternative which they wouldn’t normally make that payment. Instead, they would enable Crown to build a casino in Barangaroo, on the condition that it was a VIP-only facility.
‘This alternative may be seen as a potential win-win scenario for individuals of Sydney,’ said Echo chairman John O Continue reading