{"id":777011303,"date":"2023-11-21T06:23:38","date_gmt":"2023-11-21T09:23:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777011303"},"modified":"2026-04-22T15:25:28","modified_gmt":"2026-04-22T18:25:28","slug":"the-star-entertainment-group-agrees-new-casino-duty-rates-in-new-south-wales","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/the-star-entertainment-group-agrees-new-casino-duty-rates-in-new-south-wales","title":{"rendered":"The Star Entertainment Group agrees new casino duty rates in New South Wales"},"content":{"rendered":"\n

The casino operator has signed an agreement with the state.<\/p>\n\n\n\n\n\n\n\n

Australia.-\u00a0The Star Entertainment Group\u00a0<\/strong>has announced that it has reached an agreement with the New South Wales government regarding new tax requirements. The agreement was signed on November 21 after months of negotiations.<\/p>\n\n\n\n

The casino operator will be subject to a number of new tax measures, including an increase in the duty rate on rebate play from 10 per cent to 12.5 per cent and an increase in the duty rate on table games non-rebate play from 17.91 per cent to 20.25 per cent. The company will be required to pay an additional levy of 35 per cent on all gaming revenue above AU$1.125bn (US$731.36m) per financial year.<\/p>\n\n\n\n

The company estimated that the changes cost it up to AU$1.11bn over the next five years. It has already laid off 500 full-time employees and frozen salaries.<\/p>\n\n\n\n

The Star\u2019s Group CEO and managing director, Robbie Cooke<\/strong>, said: \u201cThe Star appreciates the constructive engagement on this process with the current NSW Government.\u00a0The formalisation of these arrangements protects our Sydney team\u2019s jobs and enables us to continue the important ongoing work required to restore The Star Sydney to suitability, and to earn back the trust of our stakeholders.\u201d<\/p>\n\n\n\n

In its financial results for the fiscal year 2023<\/a>, The Star Entertainment Group reported that its net loss grew from AU$203m in the prior year to AU$2.44bn (US$1.57bn). The company reported a 22 per cent year-on-year increase in gross revenue to AU$1.86bn (US$1.20bn) and a 34 per cent increase in EBITDA to AU$317m (US$204m).<\/p>\n","protected":false},"excerpt":{"rendered":"

The casino operator has signed an agreement with the state.<\/p>\n","protected":false},"author":176,"featured_media":25794,"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 Star Entertainment Group has finalized an agreement with the New South Wales government, implementing new tax measures including increased duty rates on rebate and non-rebate play, and a 35% levy on gaming revenue exceeding AU$1.125bn. These changes are projected to cost the operator AU$1.11bn over five years, leading to significant operational adjustments and impacting its financial outlook.","focusai_entities":"The Star Entertainment Group, New South Wales government, Robbie Cooke","focusai_location":"Australia, New South Wales, Sydney","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Tax Impact Analysis","query":"How will the new duty rates and gaming revenue levy specifically alter The Star Entertainment Group's NGR projections and EBITDA margins over the next fiscal cycle, considering the AU$1.11bn estimated cost?"},{"label":"Regulatory Suitability Strategy","query":"What specific governance framework enhancements and operational adjustments are being implemented by The Star Entertainment Group to restore regulatory suitability and rebuild stakeholder trust, beyond the tax agreement?"}],"footnotes":""},"categories":[16336,163,158],"tags":[23871],"class_list":["post-777011303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","category-slider-home","tag-the-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011303","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=777011303"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011303\/revisions"}],"predecessor-version":[{"id":777040931,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011303\/revisions\/777040931"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25794"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}