The New South Wales government plans to expand Barangaroo Central Urban Renewal project by more than 150%. The proposed scheme plans to turn the area between Barangaroo Reserve and the Western Sydney CBD waterfront into a prime residential area. The expansion project is expected to have recreational parks, with community cultural spaces, a Sydney Metro station and commercial hub. However, this projected development has not been welcomed by everyone. Crown Resorts Limited is at the forefront of those opposing this seemingly positive development.
Why Crown Resorts is Opposing the Barangaroo Central Expansion
Crown Resorts Limited is currently building a Crown Sydney Casino Integrated resort adjacent to the Barangaroo Central Expansion Project. The Barangaroo Central Expansion Project includes plans of a Sydney Metro station. Now, for the New South Wales government to cover the costs of the train station, the buildings have to rise to about 150 000 m² from the initial anticipated 59 000 m². This is where the integrated casino resort company has a gripe with NSW government. It alleges that the additional expansion to 150 000 sq. m will obscure the views of their ongoing Crown Sydney Casino Resort construction project.
Crown Resorts Limited fears that it will lose almost AU$27million in revenue per year if the view from their Crown Sydney property is eclipsed by the added Barangaroo Central expansion project. Seeing as they have secured a 99-year lease and invested nearly AUD 2,7 billion in the Crown Sydney construction, Crown Resorts’ anger is perhaps justified.
What Does the Future Hold for Barangaroo and Crown Resorts Limited?
The New South Wales government and Crown Resorts Limited have to reach some kind of compromise as both projects are of immense value to the Australian economy. Both projects have created job opportunities and commercial prospects. If no middle ground is established over the Barangaroo Central Expansion project, Crown Resorts Limited may soon take the matter to the courts. We will keep our ears on the ground for any further developments on this matter. Stay updated with any Australian casino or gambling related news on casinoaus.com