Speaking of which, while describing the proposal that was submitted without prior discussion with The Star, the company commented: “The proposal is not sustainable and flawed in its design.” It also claimed that “if implemented as originally proposed would significantly challenge the economic viability of The Star’s Sydney business putting the jobs of thousands of NSW team members in jeopardy.”
This contract came to fruition, following a proposal by the previous government which included a huge increase in the duties levied on electronic gaming machines at the Star Sydney to over 60% of average poker machine income. However, the current binding contract offers better security for the future. The aforementioned Star and the NSW government formerly signed an in-principle contract during August of this year.
Star Entertainment Group, an Australian-based gambling and entertainment company, revealed on November 21st filling that it has officially entered into a binding contract with the New South Wales government on the casino duty rates it will have to pay during the period of the upcoming 7 years.
