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 will have a $1 billion expansion of their 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 includes room for the brand new place operated by Crown, their arch rival.
Two Plans Offered Up
Echo’s latest proposal is actually two separate plans that they are ready to provide this new South Wales government. In either of the two scenarios, Echo claims that they’d be willing to spend A$1.1 billion ($1 billion U.S.) in order to create two luxury that is new along side expanding their casino.
The distinction between the two plans boils down to what else Echo is prepared to provide the federal government and whatever they’d allow Crown to accomplish into the city. Under their favored plan, they would pay the government an additional $250 million so as to increase 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 re payment. Instead, they might enable Crown to build a casino in Barangaroo, in the condition that it in fact was a VIP-only center.