Echo Entertainment is accepting bids for its Jupiters Casino property in Townsville. The renowned casino operator is selling the casino because it ‘doesn’t fit’ with the rest of its East Coast operations, and bidders could spend up to $75 million on the property.
A report in the Townsville Bulletin noted that the most likely buyer for the property is Lasseters, a Singapore-based casino operator that owns the Lasseters Hotel and Casino in Alice Springs. While most of the company’s casinos are based in Asia, Lasseters has expressed an interest in expanding its Australia operations. Jupiters Townsville would present a great opportunity to do so, as it hosts a wide range of facilities that appeal to local residents.
After offloading Townsville Jupiter, Echo Entertainment will turn its focus to its larger casinos in Sydney and Brisbane. At the moment, the casino operator is campaigning for permission to expand the Treasury Casino in Brisbane, which would bring in more tourism and gaming revenue for the company. However, Echo will have to compete with Crown Casinos, which has made plans to build a new high-roller casino in the capital. Brisbane politicians only want one project to proceed, and they will have to weigh the options.