James Packer Casino Gets Go-Ahead At Barangaroo A second casino is set to open in Sydney from 2019 after James Packer's plans for a $1.5 billion hotel and gambling resort at Barangaroo received NSW government backing. NSW Premier Barry O'Farrell said the proposal for Crown's hotel and gambling resort at Barangaroo could proceed to "stage three" of the assessment, but it was not yet a licence to build. Announcing the decision on Thursday, Mr O'Farrell said state cabinet had decided the bid by Mr Packer's company Crown Limited was superior. James Packer: plans for a $1.5 billion hotel and gambling resort at Barangaroo received NSW government backing. Photo: Jason South Mr O'Farrell said he had not spoken to Mr Packer to tell him the news, saying "this process is being done at arm's length." An assessment by businessman David Murray said the economic benefit of Crown's proposal was 26 per cent higher than a competing proposal by Echo Entertainment, owner of the Star casino. Mr Murray said having two casinos was good for competition."Two sites tend to spark off one another and produce more," he said. Crown has proposed an upfront licence fee of $100 million. Revenue would be taxed at 29 per cent. Crown had proposed 27.5 per cent. Entry to the VIP room would be subject to a 24-hour cooling-off period for anyone who can't demonstrate a track record of high-roller gambling. The announcement is subject to final approval by the state government, but effectively ends months of warring between Crown and Echo. After Crown's plans for a 60-storey tower with a six-star hotel and VIP-only casino without poker machines at Barangaroo were revealed last year, Echo responded with its own proposal to spend $1.1 billion to expand the Star. It offered to pay the government $250 million to extend its exclusive licence, which expired in November 2019, to 2034. But state cabinet has endorsed progressing Crown's bid to stage three of its policy for handling unsolicited proposals from the private sector. This means Crown and the government will enter into binding negotiations over the development plan. It is expected legislation will be needed to allow Crown to run its casino, which will be geared towards attracting high rollers from Asia.