Australia is weighing competing Sydney casino proposals

From Sydney Morning Hearld Businessman David Murray is due to hand his final report on competing proposals from casino operators Crown and Echo Entertainment to Premier Barry O’Farrell on Wednesday, only a day before it is considered by cabinet. Each company has produced expert assessments which argue its project is of greater benefit to the state, leaving Mr O’Farrell under pressure to explain his decision, due to be announced on Thursday, on which one to back. On Tuesday a government spokesman said Mr Murray’s report would be released in full, but would not guarantee the same for supporting documents, saying…

Australia’s Echo unveils $1 billion Sydney casino plan

From Reuters Australian gaming firm Echo Entertainment (EGP.AX) has submitted plans for a $1 billion expansion of its Star casino in Sydney, including an option that would allow rival Crown Ltd (CWN.AX) to open a VIP-only casino. Echo, which holds the sole licence to operate a casino in Sydney until 2019, has been lobbying to extend this right in an attempt to block Crown’s plans to add to its Melbourne casino. Crown, controlled by billionaire James Packer, has said it wants to open a VIP casino in Sydney as part of a A$1 billion six-star hotel and residential waterfront development,…