Echo antes up in Qld
"We could not have moved faster in committing a significant investment upgrade in Sydney and our attention is now firmly on Queensland," Echo chairman John O'Neill told investors at the company's shareholder meeting on Friday at its flagship casino, The Star.
Echo appears to have lost out to Mr Packer in Sydney, where Crown's plans to develop a $1.3-billion high-roller casino and luxury hotel in competition with The Star have progressed.
Echo and Crown are two of the strongest contenders to redevelop the government precinct in Brisbane's CBD, which goes to tender later this year.
If Echo loses the bid it would throw serious doubt on the company's ability to compete with its current operation, Treasury Casino, which sits in the area proposed for development.
Echo chief executive John Redmond told investors the scale of its total investment will ultimately be determined by a number of factors that may impact on its ability to make an appropriate return.
Frequently Asked Questions about this Article…
Echo Entertainment has pledged to invest over $1.5 billion in redeveloping its Brisbane and Gold Coast casinos if it wins the competitive bid against Crown Resorts in Queensland.
Echo Entertainment has pledged to invest over $1.5 billion in redeveloping its Brisbane and Gold Coast casinos if it wins the competitive bid against Crown Resorts.
Echo Entertainment is focusing on Queensland because it sees significant potential for growth and development in the region, especially after losing out to Crown Resorts in Sydney.
Echo Entertainment is focusing on Queensland because it sees significant potential in redeveloping its casinos there, especially after losing out to Crown Resorts in Sydney.
Echo Entertainment's investment plan in Queensland is over $1.5 billion, which is a significant commitment. In comparison, Crown Resorts has plans for a $1.3-billion high-roller casino and luxury hotel in Sydney.
Echo Entertainment's investment in Queensland is part of a high-stakes battle with Crown Resorts, which has already progressed with a $1.3 billion high-roller casino and luxury hotel in Sydney.
If Echo Entertainment loses the bid in Brisbane, it could cast serious doubt on the company's ability to compete with its current operation, the Treasury Casino, which is located in the proposed development area.
If Echo Entertainment loses the bid, it could cast doubt on the company's ability to compete effectively with its current operation, Treasury Casino, which is located in the proposed development area.
The main contenders for the Brisbane CBD redevelopment project are Echo Entertainment and Crown Resorts, both of which are strong competitors in the casino and entertainment industry.
The main contenders for the Brisbane CBD redevelopment project are Echo Entertainment and Crown Resorts.
The scale of Echo Entertainment's total investment will be determined by several factors that may impact its ability to achieve an appropriate return on investment.
The scale of Echo Entertainment's total investment will be determined by several factors that may impact its ability to achieve an appropriate return on investment.
The Brisbane CBD redevelopment project is significant for Echo Entertainment as it represents a major opportunity for expansion and competition in the Queensland market, especially after the company's setback in Sydney.
Echo Entertainment's chairman, John O'Neill, stated that the company could not have moved faster in committing to a significant investment upgrade in Sydney and is now focusing on Queensland.
After losing out to Crown Resorts in Sydney, Echo Entertainment has shifted its focus to Queensland, where it is committed to making a substantial investment to enhance its presence and competitiveness in the region.
The Brisbane CBD redevelopment tender is significant for Echo Entertainment as it represents a major opportunity to expand and enhance its casino operations in a competitive market.
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