Sydney is a step closer to getting a second casino after NSW Labor gave its support to the plan.
NSW Premier Barry O’Farrell’s cabinet is also expected to give formal approval to James Packer’s A$1 billion development at Barangaroo, at a meeting next week, News Ltd reports.
Labor backed the plan on Tuesday when Opposition Planning spokesman Luke Foley took a recommendation to the shadow cabinet and caucus.
‘‘It’s a significant amount of (gaming) revenue to the state if it’s a decent deal,’’ Foley told The Australian Financial Review.
He said the second casino licence for Sydney was the price NSW would pay for a six-star hotel.
He said Labor backed the proposal as long as there was a fair rate of return for the state, no intrusion into public space at Barangaroo, no poker machines in the casino complex and Echo Entertainment retained exclusive management until 2019.
Packer told the Australian Financial Review he was ‘‘very appreciative’’ of Labor’s support for the proposal.
A spokesman for O’Farrell told News Ltd no decision had been made yet on a second casino licence.