Crown Casino in Sydney closes one floor of it’s much-touted VIP casino and sacks 95 staff – blaming the ‘cost of living crisis’

Sydney’s Crown casino will close one of its VIP gaming floors and lay off up to 95 staff after visitor numbers fell below expectations, it was reported.

Housed in the 71-story One Barangaroo tower overlooking the city’s Harbor Bridge, the Blackstone-owned casino opened its two VIP gaming rooms just a year ago.

But now the bosses have decided to close the members-only Mahogany suite, citing the tough economic climate and the cost-of-living crisis.

“Crown has made a decision to consolidate its two VIP casino floors in Sydney in response to the current macroeconomic challenges facing our industry along with other Australian companies,” a Crown spokesperson told the UK. Sydney Morning Herald.

Access to the now-closed mahogany floor and 30 private parlors was contingent on a $45,000 minimum spend at Crown Resort’s bars, restaurants and resorts (stock image)

“Unfortunately, this decision will affect some of our team members, and we are working with them and their union to discuss their options in hopes of moving as many people into other roles as possible.”

Access to the now-closed mahogany floor and 30 private parlors was contingent on a minimum spend of $45,000 at the Crown Resort’s bars, restaurants and resorts.

But now high rollers are confined to the Crystal Room, which features 160 tables and 66 electronic tables.

Crown Sydney is designed for international high-rollers, with a mahogany floor and 30 private lounges.

Customers will now be limited to the 160 tables and 66 electronic tables on the crystal floor. Being a VIP-only facility, Crown Sydney does not have any poker machines. There is a minimum bet of $20.

Crown Resorts was bought by private equity giant Blackstone in a nearly $9 billion deal last June

The deal netted former chairman and majority shareholder James Packer (pictured) $3.3 billion

To access the mahogany room, VIP members required a minimum spend of $45,000 at the bars, restaurants and hotels.

“The expansive play areas are inspired by a large open-air plaza,” enthuses the Crown’s website.

‘The custom designed and woven carpets resemble vibrantly hued and drawn textile ‘pavers’, while the extravagantly detailed and glittering ceilings reference elaborate pergola canopies.

“Majestic stone walls and colonnades complete the impression of a luxurious outdoor experience transported indoors.”

It’s clear that the mahogany floor will reopen in peak periods like Chinese New Year, when wealthy Chinese — who make up about 75 percent of the global VIP gaming market — roll into town.

The casino has been plagued by scandal in its short existence.

Room with a view: Mr. Packe owns a $72 million penthouse in the 71-story skyscraper

It was supposed to open at the end of 2020, but was postponed after it was found unfit to have a gambling license.

Last month, Crown Resorts agreed to pay a $450 million fine for “flagrant” anti-money laundering violations.

The company admitted that it had failed to investigate suspicious transactions at its Melbourne and Perth casinos to prevent possible money laundering by criminal gangs, drug dealers and terrorists.

It will be the highest fine paid by a casino in the world.

Sydney’s Crown Casino was the brainchild of former chairman and majority shareholder James Packer, who owns a $72 million penthouse in the 71-story skyscraper.

Crown Resorts was bought last June by private equity giant Blackstone in a nearly $9 billion deal, netting Mr. Packer a $3.3 billion payout.