Casino firms submit Sydney proposals

ustralian gaming company have pledged a billion dollars to expand The Star casino in Sydney.

Star owners Echo Entertainment, one of the largest gambling companies in Australia, have also included an option in their plans to allow rival firm Crown Ltd to open a VIP-only casino in order to get the proposal accepted by the New South Wales government.

At the moment Echo hold the sole licence for casino operations in Sydney until 2019 but have been attempting to extend that period to fight off competition from Crown, who wish to add to their portfolio which includes a casino in Melbourne.

Crown made public their plans to open a new casino in Sydney as part of a residential waterfront and six-star hotel development. However, it is believed the government will accept only one proposal, meaning either an expansion of Star or a new casino built by Crown, but not both.

The new proposal made by Echo might be viewed as a compromise and their chairman John O’Neil said: “This alternative may be seen as a win-win scenario for the people of Sydney.”

Crown, too, are thought to have submitted an updated proposal but have yet to disclose its details.

The New South Wales gaming authority are yet to approve either submission and have not set a time frame for doing so.

Bruce Archer