Crown Sydney looking for staff as property prepares to start gambling

Crown Resorts Sydney may be opening for gamblers after all. After the property was initially prohibited from launching gambling due to the ongoing investigation into various offenses and regulatory shortcomings, it seems that the company has been able to clear prerequisites and footfall will soon return to the Sydney property as a result.

The AU$2.2bn project, estimated to be worth $1.6bn at today’s trading rate, was barred from launching gambling products but was issued a liquor license to operate its hotel on-site and various food & beverage facilities.

Now, the Sydney Morning Herald seems to have it on good authority that Crown Sydney and the NSW Independent Liquor and Gaming Authority (ILGA), which is responsible for gambling in the state, will strike an agreement with the company and the property’s gambling operations will have their grand opening after an 18-month wait.

When the company will welcome its first gamblers remains to be seen, but the non-gaming facilities have been up and running. The appearance of job postings involving casino staff on behalf of Crown Sydney is reassuring, though, suggesting that the property is in all likelihood going to open for business before long.

Still, Crown Sydney has a long way to go in order to prove suitability. The Sydney MorningHerald notes that the license will be issued for a period of two years and will be a sort of litmus test. Crown Sydney will most likely have become a part of The Blackstone Group, after the casino’s shareholders approved the acquisition, by the time the license expires. Good behavior would mean a license extension.

As to The Blackstone Group, the group commented that it did not foresee any issues with assuming control of the property despite the ongoing regulatory tensions. With Crown shareholders clearing the deal, the purchase now is all but a shoo-in.

The property has known some difficult times, nevertheless. Crown Resorts was about to launch its casino in 2020, but an inquiry into its operations stopped it in the tracks. The casino was able to sway regulators and secure opening permits for its hotel and non-gaming facilities and at least begin to make some return on its investment.

Suspension of travel and strict lockdowns cut access to tourists, putting the property in a difficult situation. The inquiry eventually called Crown unfit to hold a license but argued that in light of the goodwill and reformist character shown by the company, a two-year trial period would be granted. During that period, ILGA representatives will monitor the operations at the casino and ensure that all measures are being complied with.

Elsewhere, the Victoria government agreed to put aside $40m to address various regulatory filings and strengthen its oversight of Crown Melbourne.

Image credit: www.crownsydney.co.au