Australia Star Entertainment Group has confirmed the ratification of new tax rates with the New South Wales State Government.
Covering a seven-year period, the deal was originally agreed upon in August and will seek to provide stability within the sector.
The Star’s Group CEO and Managing Director, Robbie Cooke, said on the deal: “The Star appreciates the constructive engagement on this process with the current NSW Government.
“The formalisation of these arrangements protects our Sydney team’s jobs and enables us to continue the important ongoing work required to restore The Star Sydney to suitability, and to earn back the trust of our stakeholders.”
Despite the significant development, conversations will continue to formalise other aspects of the deal, including the cashless and carded play trial.
As well as this, a commitment to additional jobs will also be central to future discussions as the groups continue to develop their relationship and regulatory framework.
In terms of rebate play, the duty rate will be raised from 10 per cent to 12.5 per cent, while the duty rate will increase for table games non-rebate play as well, from 17.91 per cent to 20.25 per cent.
Duty rate changes for poker machines non-rebate play have been split into two categories – before and after June 30, 2030.
Excluding GST, poker machine duty rate will remain at 20.91 per cent until July 1, 2024, when it will increase to 21.91 per cent. It will rise again on July 1, 2027, to 22.91 per cent.
After June 30, 2030, exclusive of GST, duty rates for poker machines will apply to the average poker machine revenue of machines in use at The Star Sydney as follows:
- Less than $2,666 – 0 per cent
- $2,666 or more and less than $6,667 – 37.6 per cent
- $6,667 or more and less than $12,500 – 42.1 per cent
- $12,500 or more – 51.6 per cent