The NSW cabinet is set to end Echo Entertainment’s casino monopoly in Sydney, paving the way for James Packer’s Crown to open a new luxury complex in the city, The Australian reports.
The newspaper understands Premier Barry O’Farrell’s cabinet will formerly accept Mr Packer’s proposal to build a hotel and casino on Sydney’s harbour at a meeting next Monday.
The state opposition is also said to approve the plan, which would grant the city’s second casino license to Crown once Echo’s Star license expires in 2019, according to The Australian.
Source Article from http://www.businessspectator.com.au/bs.nsf/Article/Crown-set-to-win-Sydney-casino-lisence-report-pd20121023-ZCNH7?opendocument&src=rss