In Barangaroo, an inner-city suburban area of the Australian capital
James Packer's casino bid in Sydney on hold until 2019
2012-10-16
Reading time 45 seg
(Australia).- It will be 2019 before James Packer can have his casino at Barangaroo and it will require a change to the one casino licence policy in New South Wales, Premier Barry O'Farrell confirmed last week. There has been speculation that Packer, who is launching a bid to increase his stake in Echo, would use that licence to open a high-rollers' room at a six-star hotel he has promised to build at Barangaroo.
But under questioning from Greens MP John Kaye at budget estimates, Mr O'Farrell, a supporter of Mr Packer's proposal, confirmed he believed that the one casino legislation agreement set out that the state's only casino had to be on "one site".
He added he had no intention of breaking the 12-year exclusivity arrangement the Labor government signed with the Star in 2007.
Another budget estimates hearing heard that money left over from the negative regional relocations grants program had been allocated towards the Star casino.
Budget documents obtained by the opposition show that the leftover funds have been funnelled into other programs, including an us$ 8.5 million GST offset for The Star.
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