This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Echo Unveils Proposal For World's First Connected, Integrated Resort At The Star

"The proposal we are unveiling today is visionary, transformational and we believe would create the world's best Integrated Resort right here in downtown Sydney," Mr O'Neill said.

"This is a pivotal moment. What we are proposing is a real game-changer for the city and the State that will help deliver the Premier's ambition to make NSW number 1 again.

"If approved, our plans will complete Sydney's new feature precinct, integrating Barangaroo, Darling Harbour and Pyrmont and contribute greatly towards the ambitious goals set by the NSW Government which aim to double overnight visitor expenditure to NSW by 2020.

"Our proposal complements the NSW Government's vision for a revitalised Pyrmont and Darling Harbour precinct and will simplify transport options for millions of Sydneysider trips each year.

"Importantly, the people of Sydney and NSW will also benefit if our proposal is approved," Mr O'Neill said.

Mr Redmond said that Echo's plans would further improve upon the benefits The Star already provides to NSW.

"Since 1995, The Star is estimated to have already contributed around $4 billion in taxes, licence fees and other charges to the NSW Government, and GST to the Commonwealth Government," Mr Redmond said.

"As part of our plans today, we are giving the NSW Government the option of exclusivity payments totalling $250 million and a further tax contribution of $1 billion for the duration of the extended exclusivity.

"We are already one of the largest single site employers in Sydney and once our expansion plans are completed, The Star will be providing jobs for more than 5,750 people.

"We are home to The Darling, which is the only new five star hotel built in Sydney since the 2000 Olympics. We will further add to this by building two brand new hotels which will mean The Star will be home to a total of 1,150 hotel rooms for tourists.

"The Star is already one of the leading tourist destinations in Sydney and NSW but our plans are expected to attract an additional 330,000 international and interstate visitors per year.

"I have been in this business all my life and there is not an Integrated Resort anywhere in the world with a better location than The Star, and the opportunity to build a complex of this scale and on such a site should be a huge magnet to overseas visitors wanting to visit Sydney. 

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs