Echo Releases Sydney Casino Arrange with Crown Casino Option
The battle over Sydney’s casino marketplace took a dramatic turn this week, as Echo Entertainment unveiled a plan that will feature a $1 billion expansion of their existing Star casino in the city. But while Echo had previously appeared to want a monopoly over the city’s casino industry, their plan that is latest 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 they are willing to provide this new South Wales federal government. In either of the two scenarios, Echo claims that they would be willing to spend A$1.1 billion ($1 billion U.S.) in order to build two luxury that is new along with expanding their casino.
The distinction between the two plans comes down to what Echo that is else is to give the us government and whatever they’d allow Crown to accomplish into 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.
But, Echo also provided a plan that is alternative that they wouldn’t normally make that payment. Instead, they might enable Crown to build a casino in Barangaroo, in the condition that it in fact was a VIP-only center.
‘This alternative may be regarded as a win-win that is potential for the folks of Sydney,’ said Echo chairman John O’Neill.’ If that Continue reading Echo Releases Sydney Casino Arrange with Crown Casino Option