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Echo Entertainment shows profit on the back of Jupiters Casino success

One of Australia’s most popular gambling destinations, Jupiters Casino, recently posted its most profitable monthly figures since the start of 2010: Echo Entertainment’s Chief Executive Larry Mullin said the group’s revenues for the first six weeks of the financial year were up more than 12%.

Mr. Mullins described Jupiters Gold Coast as ‘firing on all cylinders’, and credited the casino’s new managing director Frederic Luvisutto with driving an ‘aggressive’ approach to customer service, and an array of new incentives to woo back Jupiters’ ‘better customers’.

The Jupiters division, which includes Townsville's Jupiters Casino, delivered EBIT (earnings before interest and tax) of AU$58.5 million, up 58.1 percent on last year thanks to a 10.6 percent lift in revenue to AU$374 million.

But Mr. Mullins said there was still some way to go before Echo Entertainment could commit to building a new hotel at the Broadbeach property, though a confirmation of the 2018 Commonwealth Games coming to Australia – and the Gold Coast – would change the situation for the better;

‘We would love to build a hotel up there. If our business grows the way we believe it's going to, we're very bullish that the Gold Coast is more than ready for a second hotel at our property.’

In the meantime, Echo has plans for the Jupiters casino: a redesign of the existing swimming pool area and an expansion of the Jupiters Theatre that will renovate the venue and double its capacity to 2000.

‘We are actively speaking to major international entertainers that want to come and play at the entertainment centre,’ says Mullin. Away from the Gold Coast, Echo is in the final stages of a AU$900 million refurbishment of Star City Casino, Sydney – a project that has come in ‘on time and on budget.’

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