Crown Resorts $1.1 Billion Sydney Casino Project Cleared for Take-Off

Crown Resorts $1.1 Billion Sydney Casino Project Cleared for Take-Off

Crown Resorts $1.1 Billion Sydney Casino Project Cleared for Take-Off

An music artists’ rendering of Crown’s towering Crown Sydney Hotel Resort, which ended up being green-lit this week

James Packer’s Crown Resorts has received approval to transform the skyline of Sydney, Australia, utilizing the creation of the skyscraping $1.1 billion casino resort.

The 72-story Crown Sydney Hotel Resort project has cleared the final hurdle, signed down on Monday by the brand New South Wales Planning Assessment Commission, and now awaits the formality of a green light from the state government for construction to begin. Crown had been also awarded a 99-year gambling license.

The casino resort complex, that will be Sydney’s second, after Star Casino, will tower above Barangaroo on the northwestern side of Sydney’s central business district and will aim to attract high-rolling gamblers from Asia.

Crown Resorts recently announced it would sell $800 million of its shares in Macau-based Melco-Crown, reducing its stake from 34 percent to 27 %, reigning in its expansion in Asia in order to focus on projects nearer to house.

Including the Sydney casino, Crown has expensive developments that are new for Melbourne and Perth and, as Macau’s fortunes tumble, they evidently decided that it is safer to lure Asian high-rollers to Australia.

Changes Ordered

The Crown Sydney will boast a hotel that is 300-room flats, restaurants, pubs, shops, conference facilities and VIP video gaming rooms. Crown has said Czytaj więcej about Crown Resorts $1.1 Billion Sydney Casino Project Cleared for Take-Off