The long-awaited decision of the Queensland government as to whether James Packer’s Crown Resorts or Echo Entertainment to be granted a license for the construction of a casino in the area was announced mere hours ago.
Echo Entertainment is the company allowed to proceed with the construction of a luxurious casino resort located on the riverfront land in Brisbane.
According to the details included in Echo’s proposal, the future arc-shaped property is to feature a ballroom, moonlight cinema, sky deck, as well as plenty of dining and entertaining facilities.
Echo’s project is to play a key role in the development of the Queen’s Wharf, which will also have its pedestrian bridge, five hotels of world class quality and three residential towers.
Annastacia Palaszczuk, the current Premier of Queensland, said that the casino construction will be a great step towards the revitalization of Brisbane. The mega resort will also boost the economy as hundreds of construction and permanent jobs are to be created.
Ms. Palaszczuk said that one of the reasons why Echo Entertainment is the awarded company is the fact that their project includes a great amount of space where the access will not be restricted. She also added that Echo was the company, which managed to convince the government members that it has the financial resources to complete the project.
The main competitor of Echo was Crown Resorts, owned by James Packer. If the latter has won the bid, the property would have included three hotels, public gardens, infinity pools, etc.
Yet, Echo was given authorities’ nod after undergoing thorough checking procedures. During a meeting earlier today, an independent panel voted in favor of Echo as well.
Anthony Lynham, the Minister for the State Development, also commented on the matter and said that the construction of the resort is to commence sometime in 2017. All phases of the property should be completed by 2022.
Mr. Lynham also added that Echo’s project will help Brisbane become a top tourist destination. For the completion of the $2 billion casino resort Echo is to work in collaboration with Far East Consortium and Chow Tai Fook.
As for Echo’s rival, Crown Resorts, it was to work together with Greenland Group. Back in 2013, the two companies were competing against each other for the establishment of a Sydney-based casino and Crown was awarded the license.
Speaking of Brisbane, Echo is not new in the region. It runs the Treasury casino and acquiring another casino license in the area has been among Echo’s top priorities for quite some time.
