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 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 room for a brand new venue operated by Crown, their arch rival.
Two Plans Offered Up
Echo's latest proposal is actually two separate plans they are prepared to provide the latest South Wales federal government. In either of the two scenarios, Echo states that they would be willing to spend A$1.1 billion ($1 billion U.S.) in order to create two luxury that is new along with expanding their casino.
The difference between the two plans boils down to what Echo that is else is to offer the us government and what they'd allow Crown to accomplish within the city. Under their favored plan, they would pay the federal government an additional $250 million in an effort to extend their exclusivity agreement in Melbourne, an agreement that currently operates through 2019.
Nevertheless, Echo additionally provided a alternative plan in that they wouldn't normally make that payment. Instead, they would allow Crown to build a casino in Barangaroo, regarding the condition that it was a facility that is VIP-only.
'This alternative may be viewed as a potential win-win scenario for the folks of Sydney,' said Echo chairman J