James Packer Rips Into A Rival — That His Company Applied To Buy More Shares In


[credit creator=”Getty/Ian Waldie”]

James Packer fired another shot in Australia’s casino wars today.

Packer ripped into Sydney’s Star Casino in the article by Alicia Wood, telling The Daily Telegraph that despite promises from its owner Echo Entertainment, no amount of money could transform it into a world-class venue.

“Unfortunately for Echo, it’s located in the wrong part of the city, doesn’t properly access the waterfront and therefore can’t take advantage of Sydney Harbour,” Packer, the chairman of Crown Limited told the Telegraph.

He also said that Crown, which he owns half of, would attract more wealthy tourists to Sydney if its proposal for a six-star hotel and casino at Barangaroo is approved.

“We are happy to put our track record on tourism up against Echo’s and believe Crown can give Sydney a luxury hotel it truly deserves,” he said.

Packer also said of The Star that he didn’t think “anyone truly believes that Sydney is a better place because of it”.

Proposals submitted by Crown and Echo to win the only casino license in New South Wales are currently being considered by former Future Fund chairman David Murray.

New South Wales premier Barry O’Farrell has said that only one of the proposals will win, so it’s no wonder Packer thinks Crown could do a better job.

While Packer does not appear to be a fan of The Star, it is worth noting that Crown owns 10% of Echo. It has also applied to gambling authorities in New South Wales and Queensland to lift that stake to 25%.

Crown Limited did not respond to Business Insider’s request for comment. A spokesperson for Echo declined to respond to Packer’s statements.

Follow Business Insider Australia on Facebook and Twitter