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Echo Releases Sydney Casino Arrange with Crown Casino Option

Wednesday, February 12th, 2020

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 would feature a $1 billion expansion of these existing Star casino in the city. But while Echo had previously appeared to want a monopoly over the city’s casino industry, their latest plan also incorporates space for the 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 offer the newest South Wales federal government. In either of the two scenarios, Echo claims that they’d be willing to invest A$1.1 billion ($1 billion U.S.) in order to build 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 offer the government and what 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.

But, Echo also provided a alternative plan in that they would not make that payment. Instead, they would allow Crown to build a casino in Barangaroo, regarding the condition that it in fact was a VIP-only center.

‘This alternative might be regarded as a potential win-win scenario for the individuals of Sydney,’ said Echo chairman John O’Neill.’ If that proposal were ac (more…)