With its valid license for facilitation of gambling activities, Nevada Gold had earlier thought of making investments for the thirty thousand sq ft casino facility. However, its CFO, Jim Kohn has apprised that they have dropped the idea to go ahead with the project with Lennar Corp due to unfavorable hotel-casino features like winning amounts, tenancy rates and room-rates etc. Nevada Gold & Casinos Inc. the company from USA’s Sin City has abandoned the idea to move forward for acquisition of the casino and 200-room hotel near the Las Vegas Motor Speedway. They would set aside the amount of $215,000 that has since been invested for the project till date; said Jim Kohn who added that now they will lay focus on instant reward related ventures.  The acting president, Ernest East also endorsed Jim Kohn’s views.  

Townsville casino on sale by Echo

Echo Entertainment Group now with its focus on its properties in Gold Coast, Sydney and Brisbane for penetrating the big bazaars is all set to dispose off Townsville casino. The property has been registering a hike of sixty percent in the gross income with the meager increase of just five percent in the revenues. The sale would facilitate opportunities for development and expansion of gambling activities at the above said properties.

As regards the buyers, SKYCITY Entertainment Group from New Zealand and Singapore-based Lasseters International Holdings are keen to lay their hands on Townsville through their competitive bids.  That may come somewhere around $100, a genuine amount for Echo to concentrate more on the Australian bazaars.

SKYCITY; that possesses casinos in Darwin, Adelaide and New Zealand’s Hamilton & Auckland cities is much interested in the smaller towns of Australia and thus could prove to be the best acquirer of Townsville casino. The new purchase could prove a boon for SKYCITY that is always on the lookout for such profitable ventures.

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