Echo's new challenge - cosying up to Genting

Echo's share price may have sunk but a win on yet another redevelopment of its Sydney casino could have been a disaster.

Echo investors should thank their lucky Star the NSW government has given the gong to Crown for a second Sydney casino licence.

While the loss of a monopoly licence will detract from earnings – particularly the lucrative high-roller income – it will not be for many years to come. And the alternative could have been much worse.

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