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James Packer wins right to build Sydney's second casino

An artist's impression of the proposed Crown Sydney casino and hotel at Barangaroo.
An artist's impression of the proposed Crown Sydney casino and hotel at Barangaroo.

JAMES Packer's dream of developing a second Sydney casino is one step closer after the NSW Government approved stage 3 of his proposal.

While building approval for the VIP development at Barangaroo is still a while away, the deal allows Mr Packer to "finalise all outstanding issues" before the government decides to accept his final offer.

The preliminary agreement was reached on the conditions an upfront licence fee of $100 million be paid, non-rebate gaming be taxed at 29%, the total licence fee and gaming tax payments not exceed $1 billion and local VIP membership criteria include a 24-hour "cooling off" period for applicants who cannot demonstrate a track record of high-level gaming.

Topics:  crown editors picks james packer sydney


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