The Star warns of job losses due to proposed casino tax hike

The New South Wales government has postponed the planned tax increase.

Australia.- The Star Entertainment Group has said that the planned tax increase for Sydney’s casinos would jeopardise jobs. The rise would tax gaming profits at 60.67 per cent.

The New South Wales government has decided to postpone the planned tax increase to “minimise the impact on jobs,” but Star CEO and managing director Robbie Cooke said the increase as proposed by the former treasurer is not sustainable and is flawed in by design.

He said: “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. 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.” 

The company said it intends to continue dialogue with NSW Treasury and the government to ensure the future security of its Sydney workforce. 

Cooke added: “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.”