New Year Launch in the Cards for Crown’s Sydney Casino
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Crown Resorts and its regulatory overseer are working together to launch Crown Sydney’s casino in early 2022.
Crown Resorts is in frequent discussions with the Independent Liquor and Gaming Authority about opening of its Sydney casino in Barangaroo in early 2022. NSW regulator confirms it is working with Crown towards a gaming floor opening early in the new year.
Crown Resorts opened its flagship AU$2.2bn (US$1.7bn) Crown Sydney operation in December 2020, minus the casino. The ILGA allowed the Casino to launch with just hotel and dining facilities. NSW inquiry into the operator could complete its investigations in February 2021. Crown Resort needs to recruit more staff for gaming-related roles before it can operate the casinos at full clip.
Crown Resorts is expecting a boost to its earnings due to the renewal of interstate travel in Australia and the imminent new year opening of its Sydney casino. The group also mentioned the potential of the group adding a fourth hotel to Melbourne portfolio. This comes amid an AU$8.5bn (US$6.2bn) takeover offer from US private equity giant Blackstone Inc.
