Crown Resorts announces Barangaroo casino could be delayed further
Crown Resorts is currently working on a new Barangaroo casino in Sydney which would offer a VIP-only experience. The venue has a $2 billion price tag and includes a six-star luxury hotel and the casino property. The venue could face a longer date for completion due to delays in planning.
The casino and hotel were expected to open in November 2019 but last year Crown announced that planning delays could result in 12 more months needed for completion. Rowen Craigie, the Chief Executive of Crown Resorts is now stating that the delay could be 12 to 18 months. The Crown Sydney may not open now until 2021. Crown is hoping to gain back time lost in the remediation, construction or pre-opening phase of the project.
According to Craigie, the planning process is complicated and approval for Crown Sydney could not be lodged until Lend Lease, the developer, lodges their approval to change the master plan for Barangaroo South. The delays could add even more to the cost of the project due to constructions costs continuing to increase.
Crown Resorts also operates casinos in Perth and Melbourne, with casinos in Manila and Macau as part of joint ventures, all operated by the Melco Crown Entertainment entity.