Echo’s monopoly coming to an end
As the government of Queensland, Australia ponders handing out up to three new casino licenses in the state, Echo Entertainment’s Jupiters Casino has launched a $345 million overhaul to help it stay ahead of the curve.
Live Trading News reports that the renovation and expansion of the Brisbane property will include a new six-star hotel tower, the refurbishing of the existing 592-room hotel, as well as a host of new restaurants and bars. The project is expected to be complete by late 2017, about six months before the city hosts the 2018 Commonwealth Games, Echo Queensland Managing Director Geoff Hogg said.
“We’re confident that this project will be a major tourism drawing card for the Gold Coast and that should have positive flow-on effects for any other businesses. This is an extremely exciting project for Jupiters and for the Gold Coast,” Hogg said. The massive project is expected to create 1,500 jobs, the company reported.
Echo just invested $870 million to renovate the Star Sydney, formerly Star City. Recently Crown Resorts Chairman James Packer slammed Echo as a “lazy company” that has “abused” its monopolies, and is only stepping up its game because of new competition, including a Crown property in Sydney and one in Brisbane.
