• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Packer met NSW premier on Sydney delays: report

Oct 28, 2015 Newsdesk Latest News, Top of the deck, World  


Packer met NSW premier on Sydney delays: report

Gaming entrepreneur James Packer has had a meeting with the premier of the Australian state of New South Wales over concerns that the planning process for his AUD2-billion (US$1.4 billion) Barangaroo casino resort in Sydney is dragging, reported the Daily Telegraph newspaper in Sydney.

Mr Packer is the largest shareholder in Australian casino operator Crown Resorts Ltd, the developer of the Barangaroo casino project (pictured in an artist’s rendering).

The news outlet said that delays to some ground preparation work could cause the opening of the project to be delayed past its permitted operational start of late 2019, “to 2020 or beyond”.

It added the potential slip in the timetable was partly due to a year-long dispute between Crown’s construction manager for the scheme, Lend Lease Group LLC, and the Barangaroo Delivery Authority, the body charged with coordinating urban regeneration in the waterside district of Sydney.

The newspaper quoted a spokesman for state premier Mike Baird saying he was “always keen to meet with stakeholders who are investing in the future of Sydney and New South Wales.”

In July 2014 it was announced that Crown had been given a so-called ‘Restricted Gaming Licence’ by the state government, allowing the firm to operate a VIP casino at its planned six-star Crown Sydney hotel at Barangaroo. It was told at the time it would be allowed to start operating the casino some time after November 15, 2019.

In May this year, Crown confirmed it had signed an agreement with the Barangaroo Delivery Authority. The casino operator last week said capital expenditure on Crown Sydney reached AUD202 million between the fiscal years of 2011 and 2015. “A further AUD657 million is forecast to be spent [on the project] from fiscal 2016 to fiscal 2018,” the firm said in a filing on October 21.

A note from JP Morgan Securities Australia Ltd on October 21 described Crown’s balance sheet as currently “full” due to a pipeline of new casino projects – Crown Sydney; an extension at Crown Melbourne; and plans for a Las Vegas resort.

Crown Resorts also has a venture with Hong Kong-listed Melco International Development Ltd to develop casinos in Asia via Nasdaq-listed Melco Crown Entertainment Ltd. Mr Packer attended on Tuesday the opening of the US$3.2-billion Studio City resort in Macau, a property 60 percent owned by Melco Crown.


  • tweet
Related articles
  • Blackstone clinches US$6.15bln takeover of Crown Resorts
    Blackstone clinches US$6.15bln takeover...

    Jun 24, 2022  

  • Crown Sydney gets approval to start gaming ops
    Crown Sydney gets approval to start...

    Jun 22, 2022  

More news
  • Maybe new Macau mass Covid test, community spread still
    Maybe new Macau mass Covid test,...

    Jun 24, 2022  

  • Jeju still studying online gaming for its casinos: govt
    Jeju still studying online gaming for...

    Jun 24, 2022  


Latest News

Maybe new Macau mass Covid test, community spread still

Maybe new Macau mass Covid test, community spread still

Jun 24, 2022  

It is likely that Macau will shortly have a third round of citywide centre-based Covid-19 testing in little more than a week, after the results so far of a second mass test – that was due to finish...
Read More
Blackstone clinches US$6.15bln takeover of Crown Resorts

Blackstone clinches US$6.15bln takeover of Crown Resorts

Jun 24, 2022  

Jeju still studying online gaming for its casinos: govt

Jeju still studying online gaming for its casinos: govt

Jun 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$5.8 million

Amount that each Macau casino operator paid for the circa six-month extension of their respective contract



Most Popular

  • Maybe new Macau mass Covid test, community spread stillMaybe new Macau mass Covid test, community spread still June 24, 2022
  • Blackstone clinches US$6.15bln takeover of Crown ResortsBlackstone clinches US$6.15bln takeover of Crown Resorts June 24, 2022
  • Alvin Chau, Suncity trial set for September 2: courtAlvin Chau, Suncity trial set for September 2: court June 20, 2022
  • Jeju still studying online gaming for its casinos: govtJeju still studying online gaming for its casinos: govt June 24, 2022
  • Macau ops sign contract extension, eye fresh public tenderMacau ops sign contract extension, eye fresh public tender June 23, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us