Australia

Crown Barangaroo Bet on Asian VIP Gambling High Rollers

However, Crown Sydney’s marketing brochure emphasizes the fact that the gambling establishment is for people who spend a lot of money.

A $10,500 bar tab runs through the doors of Crown Sydney’s VIP game room in Barangaroo. This figure is based on the Barangaroo Crown Rewards Program. Ironically, it does not specify the amount of gambling required to reach the Gold and Platinum status required for admission to the gaming establishment.

Barangaroo Oculus at Crown Casino – The largest chandelier in the southern hemisphere. credit:Stephen Seawart

It still represents a major shift from James Packer’s initial vision of Crown Barangaroo as a playground for Chinese high rollers.

“The key to the success of these integrated resorts is their ability to attract Chinese tourists. China’s affluent individuals are increasing the amount of time and money they spend on quality of life, choosing luxury travel as a leisure activity. I do,” he said when plans were made for a Sydney casino in 2011.

He cited stats from respected Asian investment analyst Dr. Mark Farber.

Carruthers said Crown won’t ignore the long-term potential of the Chinese market, but more patience will be needed as China’s COVID lockdown policies and geopolitical issues unfold. wax.

“China has always been an important market for Australia as a tourist destination. They have their own challenges and it will take them some time to bounce back,” Carruthers said.

Kieran Carruthers, the new CEO of Crown Resorts.

Kieran Carruthers, the new CEO of Crown Resorts.credit:Simon Schurter

He must succeed in running a casino that he has just stepped into after ten years of wrath. He inherited Crown’s dire regulatory and legal challenges, with casino operators now having to prove they are fit to hold a license in any of the states in which they operate.

“I think the social license aspect was lost over a period of time.

In 2019, this Masthead study and 60 minutes It revealed that the Crown had been infiltrated by international crime syndicates and money launderers.

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Since then, government investigations in New South Wales, Victoria and Western Australia have ruled it unfit to hold a casino license and, until recently, opened a high-rise casino on a $2.20 Barangaroo site. I couldn’t.

Crown Barangaroo finally opened the first phase of its gambling facility in August, almost two years after the hotel, but it operates under a conditional license until the end of next year.

This week, the New South Wales casino regulator fined rival casino The Star a record $100 million and suspended its license for failing to stop criminal activity and money laundering inside a Sydney casino. stopped.

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Crown Barangaroo Bet on Asian VIP Gambling High Rollers

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