Tag Archives: Echo Entertainment
Australia – Echo up 27.3 per cent as The Star shines
Australia’s Echo Entertainment Group has seen a surge in its annual earnings for its full year results for the year ended 30 June 2014 with revenues up 27.3 per cent. A key highlight was the improved performance by the company’s Sydney casino The Star. Echo, which also runs a Brisbane casino among two complexes it…
Australia- Echo looks to up Star’s VIP ante prior to Barangaroo
Echo Entertainment Group has applied for a $13.7m VIP extension at its Star Casino with the City of Sydney Council. Echo wants planning permission to build five new VIP gaming rooms on the 17th floor of the Astral hotel The Star already boasts Sovereign Room and Inner Sanctum that cater for VIP guests but it…
Australia – The Star snaps up services of former Crown executive
Australian operator Echo Entertainment Group has appointed former Crown Resorts executive Greg Hawkins to oversee The Star in Sydney. He will start his role as Managing Director in September. Previously Mr. Hawkins was Chief Executive of Crown’s Melbourne casino. He also has experience of the Asian market as he spent five years as Chief Executive…
Australia – Echo CEO resigns following 30 per cent profit slump
Echo Entertainment’s Chief Executive has resigned after just one year in the job, following an alarming dip in profit due bigger than expected wins by high-end punters. Echo Entertainment Group CEO John Redmond announced his retirement from the Australian operator as it reported that net profit had dropped by 30.5 per cent to A$46.1m, due…
Australia – Echo sells off Jupiters Townsville
Australian operator Echo Entertainment Group is offloading its smallest casino; Jupiters casino in Townsville, to Colonial Leisure Group for a price of A$70m. Echo said it will turn a pre-tax profit on the sale of the Townsville venue of about $8m, after transaction costs. Echo Chief Executive John Redmond said: “Recent performance of Jupiters Townsville…
Australia – Echo opts for Konami management system
Konami Australia has completed the simultaneous installation of its gaming enterprise management system at two of Echo Entertainment Group’s premier Queensland venues; Jupiters Hotel & Casino and Treasury Casino and Hotel. Jay Bertsch, Senior Manager of Business Development at Konami Australia, said: “With the installation of Konami’s system at the Jupiters and Treasury casinos in…
Australia- Concern over falling revenues and Echo investment
Echo Entertainment has released its A$1.5bn blueprint for the renovation of its Queensland casinos, a move that immediately saw  its share price fall based on investor concerns over the scope of the investment and warnings of underperformance this year. Having been piped at the post in Sydney where Crown Resorts won the first round of approvals to…
Australia – Echo signals Queensland expansion as results hold group back
Australian operator Echo Entertainment wants to improve its gaming offer in Queensland to better compete for VIP high rollers from Asia. Having seen its Queensland casinos hold its revenues back in fiscal 2013, Echo has already started talks with Queensland’s government about relocating its Brisbane licence and has proposed a redevelopment of its Jupiters casino….
Australia – Meetings underway for Brisbane’s second coming
Government Ministers in Brisbane have kick-started official talks with rival operators Crown Resorts and Echo Entertainment to build a second casino in Brisbane’s Central Business District. Deputy Premier Jeff Seeney, Treasurer Tim Nicholls and Attorney-General Jarrod Bleijie have now held the first formal meeting with Echo Entertainment. Mr. Seeney said: “It was very much a…
