Job cuts expected as Crown Sydney reduces hours
Crown Sydney could cut up to 180 jobs.
Australia.- It’s been reported that Crown Sydney will lay off around 180 staff as it reduces opening hours due to low footfall. The Sydney Morning Herald has reported that the casino will close from 2am to 10am from Monday to Thursday and on Sundays, and from 4am on Fridays and Saturdays.
The casino has reportedly decided that footfall was insufficient to warrant a 24/7 service. The cuts will leave around 275 staff. Crown Resorts has said it will aim to redeploy affected workers to other properties in the state.
The move comes two months after the closure of one of two VIP gaming rooms due to falling visitor numbers since the Barangaroo property’s August 2022 opening. In October, the casino operator posted a loss for the third consecutive year. The company reported a loss of AU$199m (US$125.18m). Revenue for the year ended June 30 was AU$2.7bn (US$1.69bn), up 44 per cent year-on-year.
Crown has been hit with penalties for regulatory failings. In July, the Federal Court imposed an AU$450m (US$293.4m) fine. Crown has had to revamp its board, management and procedures to meet regulatory requirements. It was granted a conditional licence to operate its Barangaroo casino until December 31.
