Inside Asian Gaming

August 2015 inside asian gaming 21 Cover Story “This project is potentially transformational for both Brisbane and Echo Entertainment.” Echo Chairman John O’Neill expansion while its putative competitor, a China-backed cruise terminal IR, founders in turbulent regulatory seas. The outlook has turned sunny for Echo. RIVERFRONT TRANSFORMATION Echo leads the Destination Brisbane Consortium that won preliminary approval from the Queensland government to redevelop Queen’s Wharf, a 9.3 hectare (23 acre) riverfront precinct in the central business district of Australia’s third largest city “This project is potentially transformational for both Brisbane and Echo Entertainment,” Echo Chairman JohnO’Neill said in a company statement. Echo and partners Chow Tai Fook Enterprises and Far East Consortium triumphed in what became a head-to-head race with Crown and its partner, mainland China property developer Greenland Holdings. “This is Echo’s opportunity to position itself as a major IR developer and operator,” Newpage Consulting Principal David Green says, noting that Echo’s current properties were built before it was spun out of Tabcorp Holdings, which focused on its Australian bookmaking operations. Mr Green believes a successful Echo IR “may position it for growth internationally, and it will certainly help Echo attract and retain a broader range of executive talent. It has also refreshed investor interest in Echo shares, so tapping the capital market may not be as challenging going forward.” ASX- traded Echo shares hit an all-time high following the Queen’s Wharf announcement. Queen’s Wharf aims to put Brisbane, Queensland’s capital, with a population of 2.3 million, on the international tourism map and win it a bigger share of Australia’s growing number of big-spending Chinese This is Echo’s opportunity to position itself as a major IR developer and operator,” Newpage Consulting Principal David Green says, noting that Echo’s current properties were built before it was spun out of Tabcorp Holdings, which focused on its Australian bookmaking operations. Mr Green believes a successful Echo IR “may position it for growth internationally.” Echo’s Treasury Hotel and Casino in Brisbane visitors. It will take some time, though: site clearing for the estimated A$4 billion project won’t start until 2017, after remaining government offices are relocated, and completion isn’t expected until 2022. Destination Brisbane’s plan may prove worth the wait. The IR component centers on the Arc, curved twin hotel towers linked by a rooftop deck. Clearly inspired by Marina Bay Sands’ SkyPark towering over Singapore, the multilevel Horizon Deck will include infinity swimming pools, spa facilities, plus a public area with restaurants and