A good article on the Echo (EGP) proposal to upgrade The Star to a connected, integrated resort. Initial reaction to the proposal from Echo looks to have the support of major shareholder Perpetual (PPT) and Echo have indicated they are unlikely to raise new equity to fund the project. I can't see there being space for two casinos in such close proximity in Sydney, however, some healthy competition should result in a better overall outcome for the Darling Harbour precinct. (VIEW LINK)
I have 13 years experience in equity markets and financial media. In 2013 I Co Founded, Livewire Markets with Tom McKay. Our vision is to be the #1 source of investment ideas in Australia. Opinions expressed are my own.
Any capital expenditure which stands to benefit the tourism industry and result in a greater influx of Asian tourists will be a positive for Australian economic growth