Star Attempts Casino Block
Echo Entertainment, owner of Sydney’s Star casino, moved to stop billionaire James Packer’s $1 billion (US$1.042 billion) proposal to build a second casino in the city.
Echo has an exclusivity deal with the New South Wales government to be the only casino in Sydney until November 2019.
The Star recently went through a $870 million ($906.76 million) upgrade. Echo proposed that this deal be extended, and that it would invest in tourism infrastructure in the Pyrmont and Darling Harbour areas.
Its proposal did not explain how much it would invest, by how long it wanted the extension, and what it would pay for it. The Government agreed to consider it.