Macau-based casino consultant Ben Lee said if the plan was given the green light, it would make gaming licensing a "total farce".

"Where is the diligence that demands a totally clean background before being granted a casino licence?"

Mr Lee said anti-gambling regulatory intervention from the Chinese government meant the VIP market had diminished since the casino was first pitched by billionaire James Packer in 2012.

"The fact that the Chinese market has totally disappeared, and is never likely to return again means that the business justification for having a second casino, particularly one as high end as Barangaroo is no longer there."

The Bergin Inquiry found Crown operated two subsidiary bank accounts as part of its VIP gaming operation, which were later found to have facilitated money laundering.

Mr Packer, who owns 37 per cent of Crown, agreed to step back from the company in the wake of the inquiry.

Earlier this year, the Perth casino royal commission found Crown was unsuitable to hold Western Australia's only gaming licence.

However, the commission stopped short of calling for Crown to be stripped of its licence, saying the casino giant should undertake remediation work to become suitable, and calling for an independent monitor to be established.

In 2021, the Victorian royal commission into Crown found the casino guilty of "disgraceful" conduct and recommended it be stripped of its licence if it could not prove it had reformed itself by 2023.

Last month, Crown Melbourne was fined $80 million for a scheme that allowed the illegal transfer of funds from China.

Allegations of criminality within the casino's operations were first raised publicly by an ABC Four Corners investigation in 2014 and again by Fairfax investigations five years later.

Last month, Crown shareholders backed an $8.9 billion sale of the company to the world's largest global investment business, Blackstone.