Star welcomes delay in NSW tax increase

Robbie Cooke, CEO and managing director of The Start Entertainment Group, has expressed relief at news that proposed increases to casino rates in NSW, Australia will be delayed until after the winter recess.

The increases, proposed by the previous government, were originally scheduled for July 1, 2023. However, the current treasurer of NSW, Daniel Mookhey, explained that the delay was to allow conversations around implementing the new tax arrangements to continue.

“This proposed duty increase was policy on the run by the former Treasurer, was ill-conceived with no consultation and had no regard to the capacity of our Sydney operation to afford the impost,” Cooke said.

“If implemented as originally proposed, the additional duty would significantly challenge the economic viability of the Sydney business and put the jobs of up to 4,000 hard working Sydney employees in jeopardy.

“We will continue to engage with the new NSW government to guarantee the jobs of our team members while working hard to implement the significant reforms required to restore The Star to suitability and to ensure it remains a valuable contributor to the NSW economy.”

Meanwhile Star has also released news that the proposed sale and partial lease transaction with Charter Hall, announced in October 2021, is no longer going ahead.

The proposed transaction, which was in relation to the Treasury casino and hotel buildings as well as the supporting Queen’s Gardens car park, was subject to certain conditions. The Star has been advised that the conditions have not been met and that Charter Hall declined to pursue the transaction further.

A spokesperson for the Star said that it was “considering its options in relation to this matter generally.”