NSW Premier Barry O’Farrell has approved James Packer’s plan to build a luxury hotel and casino in Sydney’s Barangaroo precinct, the AFR reports.
Crown’s proposal is said to cost between $1.2 billion and $1.5 billion.
It beat Echo Entertainment’s $1.1 billion plan to expand The Star casino and build two new hotels, an aquatic park, and 50 restaurants and bars.
Echo will continue to operate under an exclusive license in Sydney until 2019.
There’s more on the Fin.