Billionaire casino magnate James Packer has struck a billion dollar deal with property developer Lend Lease to construct a ‘world class hotel resort’ in Sydney’s Barangaroo South.
Plans for the site include a 350 room hotel and exclusive gaming casino equipped with exclusive high roller gaming salons and a VIP gaming room.
The announcement comes just days after Western Australia’s Premier Colin Barnett announced Packer’s plans for a hotel and entertainment complex in Perth’s Burswood region, named Crown Perth.
Packer, the Executive Chairman of Crown Limited, said his aim is to provide unrivalled VIP-standard facilities to his Perth and now Sydney branches.
"We are incredibly proud of (Crown in) Melbourne and of what we're doing in Perth, and we want to do something amazing in Sydney," Mr. Packer said.
"Sydney deserves one of the world's great hotels on its magnificent harbour. My desire is for Crown to build the best hotel in the world at Barangaroo.”
Mr. Packer also said that his plans would further stimulate Australia’s Tourism Industry and ensure the country’s economic stability.
“Crown's record demonstrates we can deliver a centrepiece that will draw millions of tourists,” he said.
“A Crown integrated resort at Barangaroo would boost the economy, create thousands of new jobs, contribute significant tax revenues to the State Government and enhance the overall attractiveness of Sydney as a first class international tourist destination.''
Acting New South Wales Premier, Andrew Stoner, agreed with Packer, and says the plans will be an improvement for Sydney, but warns of potential hiccups that could be had with the state’s current ‘one casino policy’.
"Any proposal would have to be assessed by the Independent Liquor and Gaming Authority, which would make a recommendation to the government," Mr. Stoner said.
"I think it’s a pretty exciting prospect to have, what Mr Packer termed as the 'world's best hotel' located in Sydney I think it would certainly give our city a real shot in the arm."
Acting Opposition Leader Linda Burney said the plan for the Barangaroo South site is significantly better than a previous proposal submitted by Packer to build the hotel on public land in Barangaroo Central.
"It is now appropriately located at the southern end of Barangaroo which is where it always should have been," Ms. Burney said.
Plans for the Barangaroo hotel and casino are still pending approval.
