Crown Resorts’ founder James Packer revealed that the Australia-based gambling company plans to open its new VIP gaming venue in Sydney ahead of the initial schedule.
Yesterday, Mr Packer visited the location of the Crown Sydney project that is currently under construction. As previously shared, the company has planned to see the venue up and running sometime in the first six months of 2021. It seems that plans have changed, as the single largest shareholder in Crown Resorts now shared with a local media that the venue that is to be hosted in the Barangaroo district will most likely start operation before Christmas 2020.
It was also revealed that Mr Packer intends to spend some time living in a two-story penthouse worth AU$60 million in the complex. According to the largest stakeholder in the gambling company, the notice regarding the advanced launch date of the project was pleasing, so he praised the team of Crown Resorts, along with the Wilkinson Ayre architects and the developers from Lend Lease who have been part of the project.
Public Inquiry Held by NSW Gambling Regulator to Take Place Later in January
On the other hand, an inquiry regarding the Sydney casino license of Crown Resorts is set to begin later in January. The inquiry into the license for the AU$2.4-billion Barangaroo project is expected to put Michael Johnston and Guy Jallard in the spotlight as the plans for the casino’s grand opening have changed.
The unprecedented public inquiry held by the state’s gambling regulatory body – the NSW Independent Liquor and Gaming Authority (ILGA) – is set to start on January 21st and is to review various issues related to the casino license. One of the most important matters that are to be examined is whether or not the operating license for the Sydney VIP casino venue was breached by the sale of a 20% stake in Crown to Melco Resorts and Entertainment in an AU$1.76-billion deal last May.
As previously reported by Casino Guardian, the casino operating license held by Crown for its Sydney project does not allow any connections with Stanley Ho, who is the father of Lawrence Ho, the boss of Melco Resorts and Entertainment, due to alleged links with criminal organisations. There is also a list of Stanley Ho’s associated individuals and entities that are suspended from involvement, with one of the major Melco shareholders, Great Respect Limited, being one of them.
According to sources close to the investigation, the inquiry would be focused on finding out who may have been aware of the list with banned associates at the time when the sale of Crown shares to Melco Resorts was completed. Both Mr Johnston and Mr Jalland have been among the suspected individuals who might have had knowledge of the restrictions, as at the time of the deal both of them occupied leading executive roles at the company.
- Author
Olivia Cole
