New Sydney casino resort moves closer

Crown Entertainment is moving closer to their goal of a new casino resort in Sydney after legislation was passed for the license process by the upper house in Australia.

The $1.3 billion project at Barangaroo, on Sydney Harbour, needs a special license before it can proceed with an expected opening date of late 2019. The resort is aimed a high end gamblers with high minimums and a clause banning poker machines from the development.

Premier Barry O’Farrell gave his support for the development earlier this month, saying it would attract international tourists to Sydney.

The agreement guarantees total licence fees and gaming tax payments of at least $1 billion to the NSW government over its first 15 years.

“This passage of the legislation … brings closer the investment of $1.3 billion to develop a high quality tourism resort, combining world class accommodation, premier tourist activities and a highly regulated members-only gaming facility,” Mr O’Farrell said.