The Star (ASX:SGR) speaks on potential casino tax increases in NSW

December 19, 2022 03:03 PM AEDT | By Tamnna

The Star (ASX:SGR) speaks on potential casino tax increases in NSW — Image source: © Tktktk | Megapixl.com

What did The Star say on casino tax changes?

As stated in the ASX filing, the group is trying to engage with the New South Wales government about the sustainability of these anticipated casino tax increases along with their impact on the company’s business. While continuing on a path of remediation to return to acceptability and regain the trust of its community, the company is actively taking steps to shift toward cashless gaming and carded play in order to create a safer gambling environment.

Commenting on poker machine taxes, Mr Kean said that “It’s important that casinos pay their fair share of tax. These reformed tax rates will replace the existing regime under which casinos pay less tax on poker machines than hotels and clubs.”

Additionally, other information about the projected revisions, such as how the taxes will be collected or administered, has yet to be made public. The NSW Government also hasn’t consulted with The Star about this issue.

The ASX report mentioned that upon the adoption of these proposed reforms; possible effects would depend on their specifics and how they will affect the current agreements that govern The Star's activities in Sydney.

Robbie Cook, managing director and CEO of The Star, also shared his thoughts on casino tax changes:

Data Source: Company announcement dated 19 December 2022

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