This week, Crown Casinos finalized its plans to build a new casino in Sydney and the news has covered headlines across the country. It has completely overshadowed Echo Entertainment’s announcement that it would be building a new casino in Brisbane, which also seems to be foreshadowing how the business will fare when it is launched.
There has always been steep competition between Crown Casinos and Echo Entertainment, and things are certainly going to be elevated. Currently, Echo Entertainment has an exclusivity deal in NSW, which means that The Star is the only casino allowed to operate in the state. However, the construction Crown Casinos’ new venue will be completed as the agreement has come to an end, making the casino market in Sydney much more competitive.
According to The Australian, Crown’s new casino could have the potential to ruin The Star. However, Echo Entertainment does not seem to be very bothered at the moment. Even after its multi-million dollar makeover, the casino is still raking in significant profits by appealing to high roller gamblers from around the world.
“We’re not going to spend a lot of time worrying about what may happen in 2019,” says John O’Neill, chairman of Echo Entertainment.
Echo Entertainment’s plans to build a new casino in Brisbane also help to put these qualms to rest. Even with potential competition from Crown, Echo is still moving forward with expansion in Australia’s land-based casino market.