The new Crown Resorts Sydney casino’s launch may be more muted than the venue initially planned, but this is understandable, considering the current global situation.
The property will launch with around 160 table games, as per statements made by Don Carducci, a JP Morgan Australia analyst. This matches revelations made by Crown Resorts’ executives during an investor call, where it was communicated that Crown Sydney’s gaming space has been permitted to expand up to 20,000 square metres. An additional comment was made that the current floor space utilisation is “materially less than 50 per cent of what we’re capable of,” referring to an empty floor that has been prepared for gaming.
Carducci added that considering the current table per square metres ratio, utilising the remaining available space will add around $100 million to annual table revenue, assuming that demand remains consistent.
Entertainment Expanse
Crown Resorts Sydney is the first six-star luxury hotel in the area, boasting 349 hotel rooms and 76 luxury residences with 13 restaurants and bars.
The upcoming casino spaces will include VIP areas with 160 table games and close to 70 electronic table games. Due to Star Entertainment’s monopoly on pokies in NSW, Crown Sydney will only be able to include them as part of its offering from 2041.
The property’s casino floor will differ from its Melbourne and Perth counterparts in that, instead of being a wide-open space, players will be able to access three intimate high-roller gaming spaces, namely, the Crystal Room, Mahogany Room, and Sky Gaming.
Redemption
The operator has stated that it intends to launch gaming operations at its Sydney casino in early 2022, following a revamp of its corporate governance. The recent NSW enquiry resulted in only six Crown Resorts executives that served prior to the inquest remaining in their positions and the company has added 11 new senior management and executive team members. The most notable of the new appointments is CEO Steve McCann who recently ended a 12-year stint as the Group CEO & Managing Director of Lendlease.
The company stated that the changes are the precursor to a “comprehensive culture transformation with new purpose and values.”
