Entertainment may kill James Packers bid to create
a high roller casino at Barangaroo
- 9th April 2013
BATTLE of the casinos is on.
entertainment, owners of the Star, have applied to
extend their exclusivity agreement with the NSW government
past 2019 - and if they are successful, they will
have killed off James Packers bid to create
a high roller casino at Barangaroo.
proposal has moved to the second stage of the governments
unsolicited proposals process, and will be assessed
together with Mr Packers Crown bid.
Premier, Barry OFarrell said today that only
one of the competing casino proposals will be approved.
OFarrell said Echo Entertainment had signalled
in February that they would like to apply to extend
the exclusivity of their casino license.
proposal foreshadows additional investment in and
around The Star to develop a globally competitive
integrated resort at Pyrmont, including investment
in local transport initiatives, Mr OFarrell
dual proposals will be assessed in tandem by former
future fund chairman David Murray and retired court
of appeal judge Ken Handley, and will be decided by
the end of May.
a statement to the stock market, Echo Entertainment
CEO John Redmond said the Star was the best option
for increasing tourism in Sydney.
The Star, further enhanced, can have the scale and
diversity of offering to deliver the critical mass
required to create the Integrated Resort effect
on tourism, Mr Redmond said.
Entertainment completed an $850 million revamp to
the Star complex in 2011.