NSW Premier Backs Scathing Crown Report

NSW Premier supports the report on Crown Resorts

The Premier of New South Wales, Gladys Berejiklian has told Crown Resorts that its Sydney casino may not be able to operate if gaming regulators in the state should adopt findings in the recently released report.

NSW Independent Liquor and Gaming Authority had commissioned a probe into Crown Resort to determine if it could hold a gaming licence at the recently built Barangaroo Tower. The report was up to 50 pages long, but the final verdict was a No.

The Premier has said the report was a direct., frank, and extremely thorough one. Saying that the government seeks to make sure that everyone holding a licence in NSW operates by the highest standards of integrity.

If the gaming regulators should adopt the report, Crown Resorts will need significant reforms before they can operate the second casino in Sydney.  The $2.2 billion Tower is already built and ready with the casein preparing for the opening. According to Ms Berejiklin, ILGA will have the final say on the matter, and the government will make sure anyone running a casino in the state plays by the rules and is never above reproach.

She further stated that any party found to not comply with the rules or doesn’t meet the high standards of integrity and compliance will not have the chance to operate in the state.

If the casino is prevented from opening, the Crown Resort has the option of converting its best building yet into a luxury apartment. This was the suggestion of an urban design expert.

According to Mike Harris, who lectures at the UNSW and has been staffing the project, the Barangaroo Tower has hotels, restaurants, and bars, all of which have been operating since last year. Thus, it is only the space reserved for the casino that is left unused.

In his opinion, Crown is likely to have run several scenarios to determine its action in case anything different happens. Thus, the most probable option they have is to convert the reserved spaces into residential floor spaces. With the 82 apartments within the Tower already sold at very high prices with the cheapest going for as high $10 million according to reports, converting the casino space into residential space is a way to earn even more money. After all, this is the tallest residential building in Sydney with an incredible view of the harbour.

However, this conversion will still require approval which should be easy to get for the company. According to Nicki Hurtley, an economist, the lack of a casino does not affect the economic viability of the place, and it will still be profitable without one. According to her, while the Crown Hotel appears to be designed to accommodate casino patrons, it will still have a good market without them.