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 have a $1 billion expansion of their 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 contains room for a brand new location operated by Crown, their arch rival.
Two Plans Offered Up
Echo’s latest proposal is actually two separate plans that they are willing to provide this new South Wales government. In either of this two scenarios, Echo states that they’d be willing to invest A$1.1 billion ($1 billion U.S.) in order to create two luxury that is new along side expanding their casino.
The difference between the two plans comes down to what Echo that is else is to provide the federal government and what they’d allow Crown doing in the city. Under their favored plan, they would pay the government an additional $250 million in order to give their exclusivity agreement in Melbourne, an agreement that currently runs through 2019.
Nonetheless, Echo also provided a alternative plan in which they would not make that payment. Instead, they might allow 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 win-win that is potential for the folks of Sydney,’ said Echo chairman John O’Neill.’ If that proposition were acceptContinue reading