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James Packer Admits to Severe Delays to Sydney Casino

James Packer Admits to Severe Delays to Sydney Casino

Casino tycoon James Packer has said that his $2 billion casino plan for Sydney is miles behind schedule due to delays in planning approval.

Packer was planning on completing the casino by 2020 but at the moment the company is still battling to begin construction. The company, Crown Resorts, was delayed submitting its development application due to a year-long dispute between Barangaroo Delivery Authority and Lend Lease.

This is not Packer’s only project; he is also focusing on construction in Las Vegas, Melbourne and Perth with the total worth of the projects being estimated at around $4 billion. However, there have been reports that Packer has quit the board of Crown Resorts Ltd and it is not yet known how this will affect the running of the company or the progress of its various projects.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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