The jewel in the crown empire could be converted into luxury apartments if Sydney’s high roller casino is not allowed to open urban design, expert predicts

Crown was the subject of a year-long investigation commissioned by NSW’s Independent Liquor and Gaming Authority (ILGA) to determine whether it was still eligible to hold the gambling license at the gleaming Barangaroo Tower

The report presented yesterday was over 750 pages long, but Commissioner Patricia Bergin dealt her greatest blow in just one word

That said, if the NSW Gaming Authority accepts the recommendations, Crown cannot operate Sydney’s second casino without major reforms

But the $ 2 billion towers have already been built and decorated, gaming chips and everything, and the staff are busy preparing for the casino to open

“The question is – what is the next option for Crown?” asked Mike Harris, a lecturer at UNSW who was studying the Barangaroo Project

The resort’s restaurants, bars, and hotel have been trading since late last year, but the luxury rooms created for gaming have remained inactive

“I would be surprised if an organization like Crown hadn’t conducted scenarios of what alternative uses there might be if something happened,” said Dr Harris

“The most likely option would be to convert the casino floor space into living space”

The existing 82 apartments in the skyscraper have fetched sky-high prices: The cheapest are said to have sold for almost 10 million US dollars

“It’s the location, it’s the view, it’s the prestige,” said Dr Harris on the 72 story development overlooking Sydney Harbor

“If high end residential property sales continue to be strong in this location you’d have to imagine that should make the project viable”

But if Crown wanted to make the changes and add more residential accommodation it would require approval

“At this point, nothing would be surprising if you looked back at the process of how Barangaroo developed,” said Dr Harris

“If it survives this year [and the pandemic] it can likely survive whatever happens to the crown evolution,” she said

Ms. Hutley said there was strong demand for luxury hotels in Sydney CBD before the Australian borders closed last year

“Of course [the Crown Hotel] was built to accommodate the casino guests, but there will still be a market for it,” she said

“Post-COVID Australia benefits from the fantastic reputation we have from a health and economic point of view”

We recognize the Aboriginal people and the Torres Strait Islander as the first Australians and traditional administrators of the countries where we live, learn and work

This service may contain material from Agence France-Presse (AFP), APTN, Reuters, AAP, CNN, and the BBC World Service that is copyrighted and cannot be reproduced

AEST = Australian Eastern Standard Time, 10 hours before GMT (Greenwich Mean Time)

Crown Casino, James Packer, Crown, Crown Casino Sydney

World News – AU – The high-profile Barangaroo Casino could be converted into luxury apartments with prestige

Source: https://www.abc.net.au/news/2021-02-10/crown-casino-could-be-converted-to-luxury-apartments-expert/13135694