Treasurer Matt Kean is taking advantage of the companies’ weakness to raise taxes to the same level as those in Victoria and for clubs and pubs.
The Star Entertainment Group and Crown Resorts will be charged about an extra $120 million a year in taxes by the NSW Coalition government, a decision that equalises the tax on poker machines in the state.
While the tax increase was described as a way to fund vital government services, it provides the Coalition with extra funding for election promises. The state election will be held on March 25. Polls show the Coalition trailing the Labor opposition. Crown is owned by Blackstone, an American fund manager, and almost lost its casino licence last year after a royal commission found the company had engaged in “illegal, dishonest, unethical and exploitative” conduct.
An Independent Casino Commission was formed this year, chaired by businessman Philip Crawford, after an inquiry accused Star of “a number of extremely serious governance, risk management and cultural failures” that included doing business with money launderers.
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