Echo Releases Sydney Casino Plan with Crown Casino Option
The battle over Sydney’s casino marketplace took a dramatic turn this week, as Echo Entertainment unveiled a plan that could include 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 latest plan also contains room for the brand new venue 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 federal government. In either regarding the two scenarios, Echo says that they would be willing to invest A$1.1 billion ($1 billion U.S.) in order to build two new luxury resorts along side expanding their casino.
The distinction between the two plans comes down to what Echo that is else is to provide the us government and whatever they’d allow Crown to complete within the city. Under their favored plan, they would pay the federal government an additional $250 million so as to extend their exclusivity agreement in Melbourne, an agreement that currently operates through 2019.
Nonetheless, Echo additionally provided a plan that is alternative 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 VIP-only facility.
‘This alternative are seen as a win-win that is potential for individuals of Sydney,’ said Echo chairman John O’Neill. Fortsett å lese Echo Releases Sydney Casino Plan with Crown Casino Option