Packer vision moves step closer

Packer vision moves step closer
By admin


Crown will move to the third stage of its plan to build a “six-star resort” at Barangaroo as James Packer’s vision of creating a landmark hotel in Sydney moved a step closer.

The $1.5 billion luxury resort and VIP-only casino was given the nod ahead of a $1.1b bid from Echo Entertainment, the owners of Star Casino.

The third stage involves the negotiation of a final binding offer, should the government decide to accept the offer.

NSW premier Barry O’Farrell stressed the process was not complete and that an agreement has not been reached.

Packer said he was delighted with the development.

“Sydney is one of the world’s great cities, it deserves one of the world’s great hotels,” he said. “I want this building to be instantly recognisable around the world and feature of postcards and memorabilia promoting Sydney. That’s how you attract international tourists, create jobs and put Sydney on the map.”

The Tourism and Transport Forum (TTF) said the decision brought the creation of a world class hotel in Sydney a step closer.

“Sydney, which competes with  Melbourne, Singapore and Hong Kong for a share of the gaming market is the big winner from today’s decision,” TTF chief executive Ken Morrison said.

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