Why Crown's Sydney casino will bank only a fraction of its Melbourne venue

Crown's Sydney casino is expected to deliver an extra $100 million in tax revenue to the NSW government in its first year, just a quarter of what its Melbourne venue delivers to Victoria's coffers.

Nevertheless, Crown pushed ahead in Sydney, opening its $2.2 billion building on Sydney Harbour in 2020 with hotel rooms and restaurants, but no casino.Sixteen months later, ILGA granted Crown a provisional gaming licence, just in time for Friday's official takeover of the company by US private equity firm Blackstone.

Monash University gambling researcher Charles Livingstone said Crown would not be the major boost to tax coffers that it could have been."The revenue that we can expect Crown Sydney to generate in the next year would be around $500 million based on what the Treasury has estimated their tax revenue share to be."That's about a quarter of what Crown in Melbourne would make in a good year.

As well as COVID wiping out international travel, China has issued edicts banning gambling in several jurisdictions, and while the blacklist of destinations isn't public, experts strongly suspect it includes Australia.

When a building ruins your branding. The Phallus on Darling Harbor with the wee bit of ejaculate on top. That’s their logo now.

oh poor buggers

Because they don’t use banks? They just stuff the takings in brown paper bags and make “donations” ? Or send the money to the launderers?

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