Crown Resorts Ltd, chaired by Australian billionaire James Packer, said on Wednesday that it is closer to starting development of Crown Sydney (pictured in a rendering).
The Australian casino operator – a joint investor with Hong Kong-listed Melco International Development Ltd in the Macau and Philippines gaming markets – announced that it has entered into agreements with the Barangaroo Delivery Authority (BDA) and Lend Lease Group LLC, “which give Crown the opportunity to develop the Crown Sydney site at Barangaroo South”.
The BDA was set up to oversee the urban redevelopment of that particular waterfront district of Sydney. Barangaroo South is an AUD7 billion (US$5.4 billion) redevelopment on Sydney Harbour.
The project for the casino resort is still “subject to receipt of New South Wales planning approval,” Crown Resorts said in a filing to the Australian Securities Exchange.
Crown Resorts added that it has also signed a construction management contract with Lend Lease.
“The finalisation of arrangements with the BDA and Lend Lease is a significant milestone in the development of the Crown Sydney Hotel Resort,” said Crown Resorts chief executive Rowen Craigie.
“The Crown Sydney Hotel Resort … will be a globally recognisable landmark that will attract thousands of international tourists and help Sydney compete with other global tourism destinations,” he added.
Crown Resorts has been given a ‘Restricted Gaming Licence’ by New South Wales’ Independent Liquor and Gaming Authority, which will allow the company to operate a VIP casino at its planned six-star hotel. The VIP gaming facilities will be for members only, the casino operator said in previous presentations.
The scheme will feature 350 hotel rooms and suites and 80 luxury apartments, along with restaurants, bars, shops and conference rooms, according to the company.
Jan 24, 2018The Macau government has authorised casino operator MGM China Holdings Ltd to operate a total of 100 new-to-market live dealer gaming tables on opening its HKD27-billion (US$3.46-billion) MGM Cotai....
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
Estimated investment cost for the whole Jeju Shinhwa World project being developed by Hong Kong-listed Landing International Development