An designers’ 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, aided by the creation of a skyscraping $1.1 billion casino resort.
The 72-story Crown Sydney Hotel Resort project has cleared the final hurdle, signed off on Monday by the brand New South Wales Planning Assessment Commission, and today awaits the formality of a green light through the local government for construction to begin. Crown ended up being also awarded a 99-year gambling license.
The casino resort complex, that may be Sydney’s 2nd, after Star Casino, will tower above Barangaroo on the edge that is northwestern of’s central business district and certainly will aim to attract high-rolling gamblers from Asia.
Crown Resorts recently announced it would offer $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 closer to house.
Like the Sydney casino, Crown has costly new developments earmarked for Melbourne and Perth and, as Macau’s fortunes tumble, they evidently decided it’s safer to lure Asian high-rollers to Australia.