NSW can’t afford for the Government to go soft on Star Casino
New South Wales simply cannot afford for the state government to go soft on Star Casino and let them off the hook when it comes to paying higher taxes, says Cate Faehrmann, Greens MP and spokesperson for Gambling Harm Reduction.
“Whose interests is the government acting in here? The people of NSW or their mates at Star Casino? With a $7 billion black hole in the budget, we simply cannot afford for the Government to go soft on Star Casino,” Ms Faehrmann said.
“This is the second time that the Government has let Star Casino off the hook when it comes to paying more tax on their pokies profits.
“Changes were supposed to be in place by 1 July, but the Casino was given an extension with no justification. Now they’ve been given another extension because they supposedly can’t handle a tax hike.
“Let’s remember that the reason they’re in this position is because they had subsisted on proceeds from money laundering, organised crime, and large-scale fraud for years. Now that’s been exposed, their revenue model can’t handle a tax rate on par with other jurisdictions.
Poker machines in NSW are taxed around 30% on average (20% for clubs and 37% for pubs), compared to Victoria where tax rates can be as high as 65%.
“It’s not the responsibility of NSW residents to subsidise the profits of the NSW gambling industry which reels in billions in profits every year.
“The Casino, as well as pubs and clubs, should be paying far more like they do in Victoria. Shifting towards a Victorian-style tax regime could net NSW hundreds of millions in additional revenue,” says Ms Faehrmann.