Echo Releases Sydney Casino Arrange with Crown Casino Option
The battle over Sydney’s casino marketplace took a dramatic change this week, as Echo Entertainment unveiled a plan that will have a $1 billion expansion of these existing Star casino in the town. But while Echo had previously appeared to want a monopoly over the city’s casino industry, their latest plan also incorporates space for a brand new place operated by Crown, their arch rival.
Two Plans Offered Up
Echo’s latest proposal is actually two separate plans they are ready to provide this new South Wales government. In either regarding the two scenarios, Echo states that they would be willing to invest A$1.1 billion ($1 billion U.S.) in order to build two new luxury hotels along with expanding their casino.
The difference between the two plans boils down to what else Echo is prepared 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.
Nevertheless, Echo also provided a plan that is alternative which they will never make that payment. Instead, they’d enable Crown to build a casino in Barangaroo, on 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 folks of Sydney,’ said Echo chairman John O’Neill.’ If that prop Continue reading