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Freehills advises Echo on $870m star deal
Law firm Freehills has advised Echo Entertainment on the new $870 million redevelopment of Sydney’s Star City casino.
The New Lawyer
FREEHILLS has advised Echo Entertainment on the new $870 million redevelopment of Sydney’s Star City casino.
Echo Entertainment said in August that the landmark facelift for its flagship Star City casino would significantly boost revenues. The company demurred from wagering and gaming firm Tabcorp in June 2011. In August it booked a full-year net profit of $226 million. Revenue for the year ended 3 June 2011 was $1.65 billion.
The Freehills team worked with Echo Entertainment for more than five years and was led by partner David Templeman, along with partners and solicitors from a range of disciplines including construction, property, insurance and intellectual property.
The team advised on structuring, appointment of consultants, a series of tender and procurement processes and property issues.
Templeman said it was a privilege to work with The Star on this unique project.
"A project of this size and duration will always have its own challenges. An unusual feature on The Star was the need to keep the business operational – not just during business hours but 24 / 7 – while very major construction work was undertaken on the site," he said.
"This required a bespoke contractual regime that set appropriate rules for the contractor, but also incentivised the contractor to minimise disturbance to the business."
