A long time coming
The Crown Sydney casino in Barangaroo has finally been able to start its gaming operations, more than 18 months after the resort’s non-gaming operations began. The AU$2.2bn (US$1.5bn) property’s main casino floor is now open for business; the full VIP gaming offering will not be fully ready until October.
was deemed unsuitable to hold a casino license in the province
The casino’s parent company, Crown Resorts, was the reason the casino was not able to begin when development finished. The company was deemed unsuitable to hold a casino license in the province as a result of extensive failings in its operations with existing casino properties.
A big focus on table games
The main floor at the members-only Crown Sydney has 160 different tables, in addition to 66 electronic tables. There are also 30 private salons available as part of the VIP facility. There are no slot machines in the VIP-only offering, with a minimum bet size of AU$20 (US$14). People can get access to the casino for free if they are a part of the Crown Rewards program.
the level of interest has exceeded our expectations”
Speaking about the response to date regarding the launching of the property’s casino, Crown Sydney chief executive Simon McGrath said: “The level of interest has exceeded our expectations in terms of membership. I think we’ll be at a pretty good pace relatively quickly.”
It is unclear as to what sorts of financial targets Crown has for the new gaming operations in Sydney.
Dealing with a variety of issues
Crown Resorts appears to be finally getting its operations across Australia in order. Over the past year or so, it has been subject to independent inquiries in Western Australia, Victoria, and New South Wales. The outcome of each of these investigations was that Crown Resorts was not seen to be fit to hold any of its Australian casino licenses. The initial reason for the investigations were media reports regarding Crown Resorts’ links to organized crime through high roller junkets, as well as its poor treatment of gambling addicts.
overhauled its procedures, management, and board
The company has taken extensive measures to try to become suitable once again to hold casino licenses. It completely overhauled its procedures, management, and board in order to meet the demands of regulators. The company has also been acquired by US private equity firm Blackstone in a deal worth AU$8.9bn (US$6.2bn). Crown got a conditional license to offer gaming at its Sydney casino in June; the license is valid up to the end of 2023. The company is still waiting to hear if it can get its hands on an unconditional license.