According to Tabcorp CEO, more states in Australia could implement the tax.
Australia.- The point-of-consumption tax, known as punters tax, arrived for the first time to the country last June, when South Australia announced the approval of its implementation by July 2017. The questioned tax sets gaming operators to pay an obligated fee based on where the bets are made, rather than the location of the operator.
Starting next year only in South Australia, the regional government will gather 15 percent on the net wagering revenue of all betting companies. The estimated number is AUS$9.2 million (US$7 million) per year.
According to Tabcorp chief David Attenborough other Australian States can copy the finance measure in the following year. Ben Sleep, CFO and regulatory affairs director at SportsBet added: “The South Australian Government’s decision to introduce its Punters Tax without industry consultation has created significant uncertainty, with South Australia now considered a high-risk investment destination for any Australian-based bookmaker. Sportsbet cannot invest tens of millions of dollars into a state where its Government has shown that it is willing to significantly move the goal posts without consultation with those most affected.”