Echo vs. Crown
Next month, the government of Queensland is expected to announce the winner of a yearlong bidding war over Brisbane’s second casino license. Rival operators Crown Resorts and Echo Entertainment are vying for the license to develop and run a multibillion-dollar casino resort in the waterfront capital.
Crown head James Packer partnered with Chinese property developer Greenland Holdings Group on the Queen’s Wharf Casino project. Echo Entertainment’s partners are Chow Tai Fook, the world’s largest jewelry company, and developer Far East Consortium, according to the Macau Business Daily.
The decision will be announced sometime after July 14.
“I don’t think it will be before budget,” said Acting Premier Jackie Trad. “The Queen’s Wharf project continues apace. There has been no delays. But we need to do the appropriate checks. The project will be announced soon.”
According to the Australian Financial Review, observers had speculated the former Newman Liberal National Party was leaning toward Echo as the operator, but opted to wait until after the January state election, which it lost. The review will be completed by the new Labor government of Premier Anna Palaszczuk.
“We know we have to set the right economic conditions to provide business confidence to invest in Queensland and that’s what we’ve been doing,” said Trad.
Echo Entertainment holds the sole existing license in Brisbane, for its Treasury Casino.
