Echo makes Sydney counter proposal

 

Echo Entertainment Group Ltd. responded to Crown Ltd’s push for a license for its planned $1 billion Crown Sydney high roller casino by proposing that New South Wales instead extend its exclusive rights to Australia’s largest city beyond their present expiry date in 2019. Echo, whose gaming license for The Star casino extends to 2093, did not state how long an extension it sought or detail what investments it would make under its plan but said that like Crown, it would target Chinese visitors. The state said it would review Echo’s proposal alongside Crown’s. John Redmond, Echo chief executive, also argued that Queensland should hold off on granting a casino license for the planned Gold Coast cruise ship terminal project, which would encroach on the company’s casino in the area.