Jun 29, 2016

    Crown wins approval for 6-star hotel, casino in Sydney


    AUSTRALIAN mogul James Packer won approval yesterday for a towering six-star hotel and casino complex in Sydney that is aimed at Asian high-rollers, with work expected to begin shortly.

    In 2013, the New South Wales state government legislated to site the Crown Sydney Hotel Resort on land previously earmarked as public open space.

    The casino, which will sit at Barangaroo on the north-western edge of Sydney's central business district, was then awarded a 99-year gambling licence.

    In signing off on the A$1.5 billion (S$1.5 billion) project, the Planning Assessment Commission yesterday ordered a number of changes to increase public areas around the 71-storey building.

    The amended development will deliver a variety of open spaces "while also achieving the government's stated goal to support a high-end tourist and gaming facility on the site in a building of design excellence", it added.

    Crown Resorts has previously said the casino will help attract Asian

    high net-worth travellers

    to Sydney, in particular

    from China, and create more than 1,000 jobs.

    The company, which

    this month said it

    would separate its "high-performing" local assets from its international businesses, namely casinos in under-performing Macau, welcomed the decision

    and said it would move quickly to start work.

    "For too long, Sydney has suffered from a

    lack of luxury tourism accommodation and

    Crown Sydney will help turn that around," said

    chairman Robert Rankin.

    The company plans to build a structure housing

    a six-star hotel,

    a restricted gaming facility,

    66 residential apartments

    as well as shops and

    a carpark.