decided to postpone<\/a> the planned tax increase to \u201cminimise 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. <\/p>\n\n\n\nHe said: \u201cThis 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.\u201d <\/p>\n\n\n\n
The company said it intends to continue dialogue with NSW Treasury and the government to ensure the future security of its Sydney workforce. <\/p>\n\n\n\n
Cooke added: \u201cWe 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.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"
The New South Wales government has postponed the planned tax increase.<\/p>\n","protected":false},"author":176,"featured_media":15904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The New South Wales government has postponed a planned tax increase on Sydney casinos, a move welcomed by The Star Entertainment Group. Star's CEO, Robbie Cooke, had previously stated the proposed 60.67% tax on gaming profits was unsustainable, ill-conceived, and would jeopardize up to 4,000 jobs. The company intends to continue dialogue with the NSW Treasury and government to ensure workforce security and progress on suitability reforms.","focusai_entities":"The Star Entertainment Group, Robbie Cooke, NSW Treasury","focusai_location":"Australia, New South Wales, Sydney","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Impact on Star's Valuation?","query":"How does the postponement of the NSW casino tax increase specifically affect The Star Entertainment Group's projected EBITDA, NGR, and overall market valuation?"},{"label":"Future Regulatory Dialogue?","query":"What are the anticipated next steps in the dialogue between The Star Entertainment Group and the NSW government regarding a sustainable long-term fiscal and regulatory framework for Sydney's casinos?"}],"footnotes":""},"categories":[16336,157],"tags":[23871],"class_list":["post-777006498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777006498"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006498\/revisions"}],"predecessor-version":[{"id":777006523,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777006498\/revisions\/777006523"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15904"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777006498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777006498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777006498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}