The $1.5 billion Crown Resorts Barangaroo development has been approved by the New South Wales Government, which has entered a binding agreement for the VIP restricted gaming facility.

Legislation will be introduced into Parliament this week to enable approval of the hotel and casino.

This means the design by London-based Wilkinson Eyre Architects, who won a design competition, is another step closer to fruition.

Once built, the hotel is expected to be a 70-storey, six-star hotel resort at Barangaroo, including 30 luxury apartments, bars and restaurants.

Premier Barry O’Farrell says the government supports the plans due to its economic benefits for NSW. This includes 1250 extra jobs, the billion-dollar investment in an ‘iconic’ hotel and additional gambling tax revenue.

On the government decision, James Packer says, “Sydney is one of the world’s great cities. It deserves one of the world’s great hotels. I am going to do everything I can to try and make Crown Sydney the best hotel in the world.”

The Sydney Morning Herald reports the casino will be set to operate from November 2019.

To see an animation of the design, click here.