Echo Releases Sydney Casino Plan with Crown Casino Option

The battle over Sydney’s casino marketplace took a dramatic change this week, as Echo Entertainment unveiled a plan that would have 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 plan that is latest also incorporates room for a 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 offer the newest South Wales government. In either regarding the two scenarios, Echo says that they’d be willing to invest A$1.1 billion ($1 billion U.S.) in order to construct two luxury that is new along side expanding their casino.

The distinction between the two plans boils down to what else Echo is ready to offer the federal government and whatever they’d allow Crown to complete into the city. Under their favored plan, they would pay the government an additional $250 million to be able to extend their exclusivity agreement in Melbourne, an agreement that currently operates through 2019.

But, Echo additionally provided a alternative plan in which they will never make that payment. Instead, they’d enable Crown to build a casino in Barangaroo, regarding the condition that it in fact was a VIP-only facility.

‘This alternative might be viewed as a potential win-win scenario for individuals of Sydney,’ said Echo chairman John O’Nei

SUBIR