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 feature a $1 billion expansion of these 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 space for a new place operated by Crown, their arch rival.
Two Plans Offered Up
Echo’s latest proposal is actually two separate plans that they’re willing to provide the latest South Wales federal government. In either of the two scenarios, Echo says that they’d be willing to spend A$1.1 billion ($1 billion U.S.) in order to create two brand new luxury resorts along with expanding their casino.
The difference between the two plans comes down to what else Echo is prepared to provide the us government and what they’d allow Crown to complete within 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 operates through 2019.
Nonetheless, Echo additionally provided a alternative plan in that they would not make that re payment. Instead, they would enable Crown to build a casino in Barangaroo, regarding the condition that it was a VIP-only facility.
‘This alternative are seen as a potential win-win scenario for the individuals of Sydney,’ said Echo chairman John O’Neill.’ If that pro Continue reading Echo Releases Sydney Casino Plan with Crown Casino Option