Crown Barangaroo bets on Asian tourism | Colin Kruger
Crown Barangaroo’s new owners are pivoting towards tourism and high net-worth travellers as part of plan to revitalise the gambling giant’s $2.2 billion investment.
Carruthers is well aware of the challenges the casino enclave of Macau faces, with mainland Chinese clients still facing COVID lockdowns, but also the opportunity that was ignored by Crown, and other casino operators, in the singular pursuit of VIP Chinese gamblers. A $10,500 bar tab will get a punter through Crown Sydney’s VIP gaming room doors at Barangaroo. This figure is based on Crown’s rewards program for Barangaroo which, ironically, does not specify how much gambling is needed to reach the Gold and Platinum status which is needed to gain entry to its gaming facilities.Steven Siewert
He cited a statistic from the respected Asian investment analyst Dr Marc Faber: “Eighty per cent of Chinese travelling outside the country for the first time head for a casino.” “I think the social license aspect was lost over a period of time. It’s been found again, I can assure you I’m going to show you that,” he said.revealed Crown had been infiltrated by international criminal syndicates and money launderers.Since then, government inquiries in NSW, Victoria and Western Australia have ruled it unfit to hold a casino licence, preventing it from opening - until recently - the high-rise casino at the $2.2 Barangaroo site.
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