James Packer has entered final planning stages to build a 70-storey resort casino, in Barangaroo, Sydney.
High speculation has surrounded the means of the proposal, with former federal Liberal leader John Hewson showing concern that Packer had “bulldozed” his plan, without going through proper legal tender.
This is not the first attempt by Packer to gain Casino control in Sydney. In 1997, his father Kerry Packer offered $342 million for Star City.
After selling off his inherited media fortune, Mr. Packer has proven he can be his “own man”, focusing his business successes on expanding his casino’s.
With Packer now holding majority ownership in casinos in Perth, Macau and Melbourne, Sydney is a natural progression.
Crown Chief Executive Officer, Rowen Craigie has said the proposal to move was a “major step forward”, stating:
“No other organisation can deliver this unique project at Barangaroo… A six-star hotel resort on the waterfront at Barangaroo will assist Sydney to compete with the best cities in the world for international tourists and for major conferences and events”.
As Victoria’s largest single site and entity, Crown Melbourne is the highest economic contribution and employee facilitator.
At present, Crown contributes:
- 6600 employees
- 2000 contractors
- 64,500 employees trained in Crown College (over the past 15 years)
- $360 million annual payroll
- $330 million in annual expenditure
According to Crown Limited’s Sydney proposal, once Crown Sydney is operational, the impacts will:
- The Gross State Product (GSP) will increase by $300 to $440 million per year
- Creation of 1,400 Jobs
- Between $140 – $200 million increase in Business Investment
- Exports from NSW, increased by $400 million per year
- Increase in tax revenue: payroll tax increased by $17 – $26 million per year and $114 gaming tax per year
Read the Crown Sydney Proposal
In an effort to secure popularity of the proposal, Crown Melbourne has already taken steps to create a presence in NSW.
In 2 weeks, Crown will be holding an Autumn Ladies Lunch, in Sydney’s Guillaume at Bennelong restaurant, located in the most iconic Sydney point – inside the Sydney Opera House.
The lunch will see 200 of Australia’s most influential women flock to Sydney. Guests include Her Excellency Governor-General, Quentin Bryce, media personality Sandra Sully and international supermodel Miranda Kerr.
Executive General Manger of Events & Sponsorship, Jo Stuckey believes the lunch is a “fantastic entrance point, to demonstrate the opportunities Crown can bring to Sydney”.
