Work will soon begin on a new 71-story hotel and casino complex in Sydney, after Australian mogul James Packer won approval for the building from NSW’s Planning Assessment Commission (PAC).
This was the final planning process hurdle for Packer, who won the rights to build the Crown Resorts complex after a bidding war with The Star Casino in 2012, and saw the government pass legislation on the site becoming a restricted gaming facility in 2013.
The Sydney Crown casino will sit at Barangaroo on the north-western edge of Sydney’s central business district, and has been awarded a 99-year gambling licence.
The project has been subjected to substantial modifications over the past few years, with the final A$1.5 billion agreement showing a number changes from the initial proposal. The changes include a widening of Hickson Park near the eastern side of the complex, whilst the resort will also be set back 30 metres from the harbour to allow for more pedestrian access.
Australian based Crown Resorts, who this month announced they would be separating ‘high-performing’ local assets from its international business in Macau, have previously claimed that the new casino would attract Asian high-rollers, in particular from China, and create more than 1,000 jobs.
Robert Rankin, Crown Resorts Chairman, said: “For too long Sydney has suffered from a lack of luxury tourism accommodation and Crown Sydney will help turn that around.”
The PAC said that the new complex would ‘achieve the government’s stated goal to support a high-end tourist and gaming facility on the site in a building of designed excellence’.
Crown Resorts will begin work as soon as possible, with the complex expected to open in early 2021.