Legislation

Australia – Crown given final green light for Barangaroo

Crown Resorts has agreed to a final, binding agreement with the NSW government to facilitate the development of its VIP casino and six-star hotel at Barangaroo.

The deal will allow for the licensing of Sydney’s second casino, although Crown won’t be allowed to offer low-limit bets on table games or pokies with the venue only allowed to operate VIP gaming.

Premier Barry O’Farrell explained the deal followed the completion of negotiations under stage three of the unsolicited proposals policy. He confirmed that relevant legislation would be introduced to parliament within a week.

“What we have agreed is to introduce legislation for a restricted gaming facility to be allowed to operate at Barangaroo south from November 2019,” he said. This is about high-worth individuals engaging in gaming. It’s estimated, and on the basis on Crown’s Victorian experience, that five per cent of local gamers would use this facility, but these are people who would gamble between $300,000 and $400,000 a year, clearly beyond the means of most people.”