Crown Sydney casino at Barangaroo could open by end of 2021
Crown’s multimillion-dollar Barangaroo casino could be open by the end of the year, but only if it fulfils a checklist of requirements from the gaming regulator.
NSW
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Crown Resorts could finally open its multimillion-dollar Barangaroo casino before the end of year, if it fulfils a checklist of requirements set out by the NSW Independent Liquor and Gaming Authority (ILGA).
Authority chair Philip Crawford announced on Thursday morning that Crown had agreed to pay a proportion of the costs of the Bergin Inquiry, axe international junkets for foreign high-rollers, make all gaming in its casino cashless, and phase out indoor smoking, as part of a road map to “suitability” for a NSW casino licence.
Mr Crawford told the media “fairly momentous changes had occurred” in the management of the Crown since the inquiry, including eight directors leaving or standing down, saying management had previously adopted “a quite adversarial” and “unnecessarily aggressive” stance towards regulators ahead of the inquiry.
He praised the work of new executive chair Helen Coonan, saying he was “pleasantly surprised” at the “massive change of heart” by leadership in recent months.
He added he had “direct dialogue” with advisors of billionaire James Packer, a major Crown shareholder with a 37 per cent stake, saying he had been “very supportive” since the inquiry, and was confident he wouldn’t use his shares “to influence the direction of management”.
The casino will also axe its VIP program, Mr Crawford said, while cashless use of gaming machines would be enforced to make sure money could be traced.
However he warned an independent audit to make sure “organised crime hadn’t infiltrated” Crown bank accounts would be the next major hurdle for the NSW casino, saying the venture wouldn’t “get sign off” until the accounts were cleared.
“I’m not here today to tell you they’re suitable - there’s work to be done,” he said.
However he said he could envisage the casino being open “by the end of the year”, adding there had been “nothing but full co-operation” in recent months.
Crown Sydney has not been able to open its high-end gaming rooms in its new $2.2bn Barangaroo tower after the Bergin Inquiry found it had been involved in money laundering and had gone into business with junket operators with links to organised crime.
It is still fronting royal commissions into its activities in Victoria and Western Australia. Any deal would have to be given the green light by gaming regulators in every state and the Australian Competition and Consumer Commission.
Crown has already lost its chief executive and a string of directors in the wake of the Bergin Inquiry and on Monday announced outgoing Lendlease boss Steve McCann will step in as chief executive.
In separate discussions The Star, which this week entered the bidding to merge with Crown, has also agreed to stop its international junket operations and will move towards cashless gaming.
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