When you think of Aussie casinos, there is one name synonymous with land based casinos across the land. You actually do start thinking of James Packer whether you like it or not, he literally is the Richard Branson of the down under casino world and for good reason.
James Packer has made himself a mint from the casino game and it seems he is continuing his plan of casino domination as his company are moving towards building yet another casino metropolis in Sydney.
Unfortunately for James Packer, there is a rival company vying for the ability to develop this expansive casino complex in Sydney, as we are about to tell you in today’s article.
Massive Sydney Casino
James Packer and his Crown Group business tendered a massive casino complex with a huge 6 star hotel near Circular Quay, the problem is that Echo Entertainment have countered this with their own tender for the casino complex.
New South Wales government officials now have the task of looking at both of the tenders put forward and agreeing one of them so a new casino can be built in Sydney. Packer probably thought he had the proposal in the bag until Echo Entertainment got in on the act. Now its just a waiting game to see what happens.
The Crown Group Proposal
The Crown Group proposal ensures that they will pay twenty nine percent in tax to the government which is expected to pay the government over one billion Dollars in fifteen years when other government fees are added on. As you can imagine, the government will be very happy with this sum of cash, but we don’t know how much Echo Entertainment expect to pay and whether revenue has a massive impact on the decision making process.