CASINOS – NEW SOUTH WALES

White elephant fears for Crown Sydney casino as China warns citizens not to travel to Australia

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Original article by Elias Visontay
The Guardian – Page: Online : 12-Jun-20

Crown Resorts is spending $2.2 billion on the construction of a casino complex at Barangaroo in Sydney. High-roller gamblers from China are seen as central to the casino’s business model, but the Chinese government’s recent warning that its citizens should not travel to Australia has seen industry experts claim that the business model is no longer viable. Academic Mike Harris says Crown may seek to secure a poker machine licence for the casino, although Star City recently signed a 21-year exclusivity deal with the New South Wales government for it to operate the only casino in Sydney with poker machines.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR

Crown, Star close every second pokie to keep punters apart

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Original article by Jared Lynch
The Australian – Page: 19 : 17-Mar-20

Crown Resorts will shut down every second poker machine and electronic gaming table at its Melbourne casino complex. This follows the decision by Victorian Premier Daniel Andrews to declare a state of emergency, in order to try and curtail the spread of the coronavirus. The shutting of poker machines and electronic gaming tables is one of a number of social distancing measures that Crown will adopt at its Melbourne complex, with its social distancing policy being approved by the Victorian Chief Health Officer. Star Entertainment is shutting down half of the poker machines and electronic gaming tables at its Pyrmont casino in Sydney.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, THE STAR ENTERTAINMENT GROUP LIMITED – ASX SGR

Echo to bulk up Star ahead of Crown threat

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Original article by Perry Williams
The Australian Financial Review – Page: 15 : 25-May-15

Australian-listed Echo Entertainment Group has not yet decided whether to expand its existing hotels at The Star in Sydney or build another hotel at the casino complex. The Star has a $A500m capital works budget for the next five years, as it prepares for the entry of Crown Resorts into Sydney’s casino market in 2019. The Star also intends to expand its gaming floor with the addition of extra gaming tables.

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, CROWN RESORTS LIMITED – ASX CWN, CROWN MELBOURNE LIMITED

Echo hopes for lucky Lunar New Year party

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Original article by Jessica Gardner
The Australian Financial Review – Page: 13 & 18 : 16-Feb-15

Echo Entertainment Group CEO Matt Bekier notes that the Lunar New Year period is one of the busiest times for its Sydney casino. He says The Star’s patronage by Asian high-rollers rises significantly during Chinese New Year celebrations. The Star is also hoping to attract Asian patrons to the Lunar Markets, which are operated by Fairfax Media. Bekier notes that the first night of the markets attracted 17,500 visitors

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, THE STAR, FAIRFAX MEDIA LIMITED – ASX FXJ, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, MONASH UNIVERSITY

Money on Echo as it shows a good hand

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 & 24 : 14-Aug-14

The stock of gaming group Echo Entertainment on 13 August 2014 closed 3.1% higher at $A3.30. It had posted a 2013-14 full-year net profit increase of 27.3% to $A106.3m, or 24.6% to $A158.2m excluding abnormal gains from "high rollers". Revenue from its New South Wales and Queensland casino operations also grew 3.9% to reach $A1.8bn. A distribution of $A0.04 has been declared. CEO Matt Bekier noted that strong earnings growth for Echo should now be seen as a given

CORPORATES
ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, CROWN RESORTS LIMITED – ASX CWN, THE STAR, CITIGROUP PTY LTD