Crown’s Sydney may not open until 2021

Crown Resorts expects the opening of its US$1.45 billion hotel and casino could be further postponed because of planning delays.

Australia.- Crown Resorts announced yesterday (Thursday) that the opening of its AUD2 billion (US$1.45bn) luxury six-star hotel and VIP-only casino at Barangaroo in Sydney, is likely to be delayed. The resort was supposed to open around November 2019, but Crown stated in August 2015, that planning delays could push the opening back by 12 months.

“That’s probably now somewhere between 12 and 18 months,” said Rowen Craigie Crown Resorts chief executive. “The planning process is complicated. We can’t lodge our approval for Crown Sydney until (developer) Lend Lease lodges their approval to modify the master plan for Barangaroo South.”

Craigie added that the delay was regrettable as it could add to the cost of the project, as construction costs rise as time goes on. Furthermore, Crown is hoping to recapture some lost ground either in the remediation phase, the construction phase, or the pre-opening phase of the project.

Crown Sydney may not open until early 2021 and the bad news came as Crown Resorts’ profit continues to decline due to Macau’s failing economy, which is affecting the company’s joint-venture casino resort.