Echo Unveils Proposal For World's First Connected, Integrated Resort At The Star
Echo's proposal has significant benefits for the Government and state of NSW including;
- Substantial investment in tourism infrastructure - $1.1 billion;
- Further payments for licence exclusivity – $250 million;
- Increased gaming and payroll tax – more than $63 million per annum by 2025;
- New jobs – a total of 2,000 during construction, and then 1,460 per annum new full time positions;
- Positive impetus for NSW – $350 million increase in Gross State Product;
- Strong tourism growth – 330,000 additional tourists each year to Sydney;
- Sydney for major events – 40% growth in international event delegates;
- Positive implications for gaming – only one, well regulated destination gambling venue in Sydney; and,
- Improved transport infrastructure - integrate Pyrmont/Darling Harbour and ICC Sydney Barangaroo, linking the combined precinct with the CBD.
Alternative Option Echo considers the optimal outcome for Sydney is the continued existing industry structure in NSW (and across all Australian capitals) of full exclusivity, allowing for one licensed casino operator. However Echo also shares the NSW Government's enthusiasm for the development of Barangaroo, and supports the inclusion of a six star hotel as a feature to help underpin the success of such an important state project.
Echo has provided an alternative option within its proposal to the NSW Government that does allow for earlier certainty of such a development at Barangaroo, through Crown Limited's proposed six-star hotel. This accommodation would be on the proviso that the gaming facilities proposed as part of the current Crown plan are strictly table games, VIP-only, as Crown originally proposed and in line with the globally accepted meaning and current regulatory framework applying to Echo around VIP (that is international and interstate "rebate") gaming.
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