Redmond and Packer trade blows

 

John Redmond, chief executive of Echo Entertainment Group Ltd., accused rival Crown Ltd. of misrepresenting its proposed $1 billion Crown Sydney casino hotel as an "integrated resort". Crown unveiled designs for the project earlier this month. Redmond said: "What was originally proposed as a boutique VIP gaming facility to support a six-star hotel has already evolved into a large casino," he said.  "Now the 'hotel' is only a small part of the project." Crown this month sold off its 10 percent stake in Echo, and the two are pushing rival casino investment plans for Sydney. Redmond's comments followed remarks by Crown chairman James Packer that Echo's The Star casino in Sydney had “over-promised and under-delivered” and underachieved.

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