After a lack of business from its target market of high rollers, Crown Sydney is forced to close one of its VIP gaming floors and cut 95 jobs.
The gaming area has only been open for about a year in the Barangaroo property. The casino informed staff on Thursday of the commencement of a voluntary redundancy program. Some workers will be able to fill open positions at the casino, as well as any roles in the company’s Melbourne and Perth properties.
Crown Resorts confirmed to the Sydney Morning Herald that just the “crystal” floor will remain open for the moment. Explaining some of the reasoning behind the move, a spokesperson said it is a response to:
the current macroeconomic challenges facing our industry alongside other Australian businesses.”
The Crown Sydney’s target market is high rollers, which is why it has no slot machines and a minimum table game stake of AU$20 (US$13). Players who visit the property will now only have access to 160 tables and 66 electronic table games.
This is the latest bit of bad news for the Blackstone-owned casino firm. Crown has recently been hit with a record-breaking fine of AU$450m (US$290m) relating to extensive failings at its properties across Australia, including money laundering and terrorism financing failings.