The tax increase, which was first announced by the previous Coalition government in December, aims to generate AUD364 million ($250.3 million) by 2026 from Star Entertainment and its rival, Crown Resorts.
Negotiations between Star Entertainment and the New South Wales (NSW) government regarding a proposed casino tax are reaching a critical stage as both parties strive to find a resolution.
The tax proposal, however, has faced significant backlash from Star Entertainment, Sydney’s largest casino operator, as the company argues that it will place a strain on its finances and potentially result in job losses. The controversy surrounding the tax is further fueled by criticisms from the Labor Party, who have questioned the initial development of the tax by the Coalition.
To alleviate the financial pressure faced by Star Entertainment, the NSW government is considering deferring the tax rise and offering rebates for investments in building upgrades, reported The Australian Financial Review. Despite these discussions, Labor remains firm in its commitment to see through the tax increase, emphasizing the revenue it would generate for the state.
Negotiations between Star Entertainment and the New South Wales (NSW) government regarding a proposed casino tax are reaching a critical stage as both parties strive to find a resolution.
The tax proposal, however, has faced significant backlash from Star Entertainment, Sydney’s largest casino operator, as the company argues that it will place a strain on its finances and potentially result in job losses. The controversy surrounding the tax is further fueled by criticisms from the Labor Party, who have questioned the initial development of the tax by the Coalition.
To alleviate the financial pressure faced by Star Entertainment, the NSW government is considering deferring the tax rise and offering rebates for investments in building upgrades, reported The Australian Financial Review. Despite these discussions, Labor remains firm in its commitment to see through the tax increase, emphasizing the revenue it would generate for the state.
