Crown Casino has confirmed its pledge to build a new hotel as a report revealed the gaming and entertainment giant contributed up to $3.1 billion to the national economy.
Crown was given state planning approval for the $2 billion One Queensbridge hotel and apartment complex in early 2017. But the joint project with developer Schiavello still needs funding.
Crown had also committed to contribute towards a $100 million fund to upgrade nearby Queensbridge Square and Sandridge Bridge in co-operation with the City of Melbourne.
A Crown spokeswoman said the company remained very supportive of the One Queensbridge project, which would be taller than Eureka Tower and feature 388 hotel rooms and 708 apartments.
“The start of the project is related to Crown finalising the project financing and various agreements as disclosed in our full-year results,” she said.
Crown Melbourne’s contribution to Australian real GDP was between $2.2 billion and $3.16 billion in 2017-18, according to a new report by Acil Allen Consulting commissioned by Crown Resorts Ltd. This involved up to 16,548 direct and indirect full-time jobs, while about 4000 Victorian businesses supply Crown.
Tourism and travel veteran Cinzia Burnes, executive director of Helloworld Travel, said Crown Melbourne was more than a world-renowned resort: “Crown’s importance to the Victorian economy and local jobs cannot be underestimated as this report demonstrates. From a tourism perspective, Crown is uniquely positioned, working with tourism, business, sports and cultural partners to keep Melbourne positioned as a truly international city.”