Table rate duties at Crown Sydney will increase as planned despite Crown’s plea for a rewrite of a decade-old $1 billion tax agreement. NSW Treasurer Daniel Mookhey has rejected Crown’s bid to renegotiate a planned tax increase to the profits made from its table games. Crown Sydney closed one of its two gaming floors in August and made 95 roles redundant. The latest planned cuts bring the total number of job losses over the past two months to 275. Crown entered an agreement in 2013 stipulating it would pay the government at least $1 billion in licence fees and gaming taxes over the first 15 years of full operations at its Barangaroo casino. Recently revealed Crown was seeking a rewrite of the tax pledge, arguing the economic and regulatory environments have changed, its business has suffered significant negative impacts and the 10-year-old agreement is no longer fit for purpose.
Table rate duties at Crown Sydney will increase as planned despite Crown’s plea for a rewrite of a decade-old $1 billion tax agreement . NSW Treasurer Daniel Mookhey has rejected Crown’s bid to renegotiate a planned tax increase to the profits made from its table games. Crown Sydney closed one of its two gaming floors in August and made 95 roles redundant. The latest planned cuts bring the total number of job losses over the past two months to 275.
Crown entered an agreement in 2013 stipulating it would pay the government at least $1 billion in licence fees and gaming taxes over the first 15 years of full operations at its Barangaroo casino. Recently revealed Crown was seeking a rewrite of the tax pledge, arguing the economic and regulatory environments have changed, its business has suffered significant negative impacts and the 10-year-old agreement is no longer fit for purpose
Crown Sydney Tax Agreement Tax Increase Job Losses Gaming Floors Licence Fees Gaming Taxes Barangaroo Casino
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