Packer Targets Crown Casino In Barangaroo, Sydney

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James Packer hoping to secure a deal for Crown resort in Barangaroo, Sydney

With Crown resorts in Melbourne and Perth already home to casinos owned by Aussie billionaire James Packer, the organisation is now targeting a similar setup in Sydney's Barangaroo area. 

Yet as the company goes about securing the relevant permission for such a project, chief executive Rowen Craigie has said that the initiative would need to be approved for a high-rolling gambling component in order to be economically viable.

"In Australia, the economics of developing five or six star luxury hotels … without a gaming component to cross-subsidise those economics - you're not going to see those developments in this country," he said.

So while the Crown group focuses on getting the necessary clearance for a casino in Barangaroo, it will continue to rely on its Perth and Melbourne assets to bring in the dollars, with the latter set to host Asia-Pacific's first World Series of Poker event in April of next year.