Echo's fight moves north

Worries for Echo Entertainment have moved north. Queensland premier Campbell Newman has announced plans to approve up to three new casino licences, potentially ending Echo’s monopolies in Brisbane, the Gold Coast and Townsville in one swift pen stroke. Newman’s government is frustrated with perceived underinvestment in the state and is hoping either to lure a foreign investor or a new local player (such as Crown, which is already taking on Echo in Sydney), or force Echo to carefully detail what it plans to invest in the state and when. It’s perfectly legal, as Echo's licence is perpetual but non-exclusive, but...

Worries for Echo Entertainment have moved north. Queensland premier Campbell Newman has announced plans to approve up to three new casino licences, potentially ending Echo’s monopolies in Brisbane, the Gold Coast and Townsville in one swift pen stroke.

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